Fibonacci Retracements Analysis 03.03.2017 (EUR/USD, EUR/GBP)
EUR USD, “Euro vs US Dollar”
Bears failed to break the low on the first try. However, after finishing the local correction, the EUR/USD pair is expected to resume moving downwards. The closest target is the group of fibo-levels at 1.0445 – 1.0440.
At the H1 chart, the price rebounded from the correctional retracement of 38.2%. As a result, during the day the pair may continue falling and break yesterday’s low.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is getting closer to the group of fibo-levels at 0.8645 – 0.8635. If later the price rebounds from this area, the market may start a new descending correction.
At the H1 chart, the closest target area is confirmed by local fibo-level. We should note that if bulls break this resistance levels easily, the pair will continue growing much faster.
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