Fibonacci Retracements Analysis

EUR USD, “Euro vs US Dollar”

After rebounding from the correctional retracement of 61.8%, Eurodollar has resumed its descending movement. The closest target is still the group of lower fibo-levels at 1.0640. It looks like quite soon the market is going to break the minimum formed in the beginning of the week.

As we can see at the H1 chart, Eurodollar has rebounded from the correctional retracement of 50%. The closest target for bears is the group of local retracements at 1.0940. After reaching them, the pair may start an ascending correction.