Fibonacci Retracements Analysis 14.03.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the correctional retracement of 61.8% and, as a result, resumed falling. On Tuesday, the price may continue moving downwards to reach the group of fibo-levels at 1.0445 – 1.0440.

At the H1 chart, the closest target is the group of local fibo-levels at 1.0570. If later the price rebounds from this area, the market may start a short-term ascending correction.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is testing the retracement of 78.6% again. If the price rebounds from this level this time, the market may start a new descending correction. The closest target for bears is the group of fibo-levels at 0.8640 – 0.8620.

At the H1 chart, to confirm a new correction, the price has to stay below the retracement of 78.6%. If it happens, the future scenario will depend on how the pair s going to behave at 0.8640 – 0.8620.

RoboForex Analytical Department