Fibonacci Retracements Analysis 15.03.2017 (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. The closest target for bears is the group of fibo-levels at 1.0445 – 1.0440. If later the price rebounds from this area, the market may be corrected to the upside.

At the H1 chart, the pair is being corrected. Possibly, the price may test the retracement of 38.2% soon. If later the pair rebounds from this area, the market may resume moving downwards to reach the closest target at 1.0570.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair rebounded from the correctional retracement of 23.6% and several local fibo-levels. Consequently, in the nearest future the market may start a new ascending movement and break the local high.

At the H1 chart, the pair rebounded from the group of fibo-levels at 0.8690 – 0.8680 and may resume its growth. The closest target for bulls is the area at 0.8850.

RoboForex Analytical Department