Fibonacci Retracements Analysis 07.04.2017 (EUR/USD, EUR/GBP)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is trading near its lows. In the future, the market is expected to continue moving downwards. The closest target for bears is the group of fibo-levels at 1.0560.
At the H1 chart, the closest targets are confirmed by intraday fibo-levels. Earlier, the pair rebounded from the correctional retracement of 38.2%. It’s highly likely that during the day the price continue falling.
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, the pair rebounded from the correctional retracement of 78.6% and right now is trying to resume its ascending movement. Earlier, the price rebounded from the group of downside fibo-levels. Possibly, the market may the local high on Friday.
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