Fibonacci Retracements Analysis 09.03.2017 (EUR/USD, EUR/GBP)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the correctional retracement of 38.2% several times and resumed falling. After finishing the local correction, the market may continue moving downwards to reach the area at 1.0445 – 1.0440.
As we can see at the H1 chart, the closest target of the current correction is the retracement of 38.2%. If the price rebounds from this level on Thursday, the pair may continue falling and reach several new lows.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair continues growing. The main target for bulls is the group of fibo-levels at 0.8760 – 0.8750. if later the price rebounds from this area, the market may start a new descending correction.
At the H1 chart, the upside targets are confirmed by intraday fibo-levels. Possibly, on Thursday bulls may test this area, which may provide resistance.
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