Fibonacci Retracements Analysis 21.03.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has reached a new high and the group of upside fibo-levels. On Tuesday, the price may test this area once again. If the pair rebounds from this level, the market may start a new descending correction.

At the H1 chart, the upside target area is confirmed by intraday fibo-levels.  If later the price is able to fix below this area, the market may start a new correction. In this case, the closest target for bears will be at 1.0685.

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 pair rebounded from the correctional retracement of 61.8%, resumed falling, and, as a result, broke the local low. Later, the price may continue falling towards the closest group of fibo-levels.

RoboForex Analytical Department