Fibonacci Retracements Analysis 10.03.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is once again testing the group of fibo-levels near the correctional retracement of 61.8%. If the price rebounds from the level again, the market may resume moving downwards to reach the area at 1.0445 – 1.0440.

As we can see at the H1 chart, the price was stopped by the local retracement of 78.6%, but the pair may yet test the local high. In the future, the market may resume falling towards the group of fibo-levels at 1.0565.

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 local fibo-levels. In the nearest future, the pair may start a new descending correction with the target at 0.8625.

RoboForex Analytical Department