Fibonacci Retracements Analysis 11.04.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still being corrected. The closest target is 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 rebounded from the correctional retracement of 38.2%. As a result, in the nearest future 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 retracement of 61.8% provided resistance. Consequently, in the nearest future the market may resume growing and break the local high.

RoboForex Analytical Department