Fibonacci Retracements Analysis 16.03.2015 (EUR/USD)

FXTM Online Analysis Department.

EUR USD - Euro vs US Dollar

Eurodollar is being corrected. Probably, later the price may continue falling towards the next group of fibo-levels at 1.0220. After reaching them, the market may start a larger ascending correction.

As we can see at the H1 chart, the lower target area is confirmed by local retracements. I’m planning to open another sell order with the stop loss at a local high when the market rebounds from a correctional retracement 38.2%.