Fibonacci Retracements Analysis 17.03.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is about to complete the ascending correction. The closest target for bulls is the area at 1.0785. If later the price rebounds from this area, the market may resume moving downwards.

At the H1 chart, the upside targets are confirmed by intraday fibo-levels. On Friday, the pair may break the local high, but later the market is expected to reverse and resume moving downwards.

EUR GBP, “Euro vs Great Britain Pound”

In case of the EUR/GBP pair, the correction towards the retracement of 50% at 0.8625 may yet continue. If later the price rebounds from this level, the market may start a new ascending movement to reach its upside targets at 0.8965.

At the H1 chart, the retracement of 50% is confirmed by intraday fibo-levels. On Friday, the pair may break yesterday’s low. If later the price rebounds from the retracement of 50%, bulls may try to start a new ascending movement.

RoboForex Analytical Department