Fibonacci Retracements Analysis 03.05.2017 (EUR/USD, EUR/GBP)
EUR USD, “Euro vs US Dollar”
Possibly, the EUR/USD pair is testing the closest group of fibo-levels again. If the price rebounds from this level, it may start a new descending correction. In this case, the closest target for bears will be the area at 1.0760.
As we can see at the H1 chart, the pair is still consolidating. On Wednesday, the price may test the group of upside fibo-levels for the third time. If the pair rebounds from this area, the market may start falling to reach the local target area at 1.0835.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair may yet test the group of downside fibo-levels again. However, in the nearest future the market may continue moving upwards to reach the target area at 0.8700.
In the nearest future, the market may start a short-term decline towards the group of fibo-levels tested earlier. If the price rebounds from this area, the pair will resume moving upwards to reach the upside targets.
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