Fibonacci Retracements Analysis 06.04.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

After rebounding from the group of fibo-levels several times, the EUR/USD pair may start a new ascending correction. The closest target for bulls is the area at 1.0735.

At the H1 chart, yesterday the pair rebounded once again from the group of downside fibo-levels. the main target of the current bullish 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 rebounded from the group of local fibo-levels and started the bullish correction. In the nearest future, the market may resume moving upwards to reach the closest group of fibo-levels at 0.8640 – 0.8625.

As we can see at the H1 chart, yesterday the pair rebounded from the correctional retracement of 78.6% and started growing quickly. Consequently, soon the price may break the local high and continue growing to reach its upside targets.

RoboForex Analytical Department