Fibonacci Retracements Analysis 09.06.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair broke the group of fibo-levels at 1.1230 – 1.1210, which means that it may continue the descending correction. The closest target for bears is the area at 1.1020 – 1.0980.

At the H1 chart, the closest target for bears is the group of fibo-levels at 1.1135 – 1.1115. If later the price rebounds from this area, the market may start a new ascending correction.

EUR GBP, “Euro vs Great Britain Pound”

After all, the EUR/GBP pair test the target at 0.8780 and rebounded from it. As a result, in the nearest future the market may start a new bearish correction with the closest target at the group of fibo-levels at 0.8685 – 0.8675.

As we can see at the H1 chart, the group of local fibo-levels at 0.8860 provided resistance. In the nearest future, the market may be corrected to the downside towards the retracement of 38.2% at 0.8675.

RoboForex Analytical Department