Fibonacci Retracements Analysis 05.04.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the group of local fibo-levels twice. On Wednesday, the local correction may take place, but later the price is expected to resume moving upwards to reach the area at 1.0735.

At the H1 chart, the main target of the current ascending correction is the retracement of 38.2%. If later the price breaks this level, the market may continue growing to reach the next group of fibo-levels.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair reached its local targets and started the current correction. In the nearest future, the market 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 descending correction is the retracement of 61.8%. If later the pair rebounds from this level, the market may resume moving upwards and break the previous high.

RoboForex Analytical Department