Fibonacci Retracements Analysis 10.04.2017 (EUR/USD, EUR/GBP)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still moving downwards. It looks like during the next several days the market may continue moving to reach the group of fibo-levels at 1.0470. If later the price rebounds from this area, the pair may start an ascending correction.
At the H1 chart, the pair may be corrected with the target at the retracement of 23.6%. If this level provides resistance, the price may break the low and then continue falling to reach its downside targets.
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 may test the retracement of 78.6% again. If the price rebounds from this level, the market may resume growing and break the local high.
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