Fibonacci Retracements Analysis 13.03.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the correctional retracement of 61.8%, which means it may resume falling. The closest target is the group of fibo-levels at 1.0445 – 1.0440.

As we can see at the H1 chart, the upside target area, from which the price rebounded earlier, is confirmed by local fibo-levels. On Monday, the market may fall towards the correctional retracement of 38.2%.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair failed to stay above the retracement of 78.6%. As a result, during the next several days the price may be corrected. The main target for bears is the group of fibo-levels at 0.8640 – 0.8620.

At the H1 chart, the closest targets are confirmed by local fibo-levels. Consequently, on Monday the price may continue moving downwards. We should note that if the pair breaks the area at 0.8640 – 0.8620, the market will continue falling much faster.

RoboForex Analytical Department