Fibonacci Retracements Analysis 04.04.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair continues moving downwards. The closest target for bears is the group of fibo-levels at 1.0610. If later the price rebounds from this area, the market may start a new ascending correction.

At the H1 chart, the downside targets are confirmed by intraday fibo-levels. Possibly, on Tuesday the price may test the closest target area and start a new bullish correction.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair reached its local targets and started the current correction. However, later the price may resume moving upwards to reach the closest group of fibo-levels at 0.8640 – 0.8625.

At the H1 chart, the target of the local correction is the retracement of 61.8%. If later the pair rebounds from this level, the market may resume moving upwards and break yesterday’s high.

RoboForex Analytical Department