Fibonacci Retracements Analysis 12.05.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the group of upside fibo-levels and started a new descending correction. In the nearest future, the market may fall towards the area at 1.0825. If later the price breaks this area, the current correction may continue up to the retracement of 50% (1.0755).

At the H1 chart, the closest target of the current local correction is at 1.0908 (the retracement of 38.2%). If later the pair rebounds from this area, the market may resume falling and break the previous low.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair once again rebounded from the group of downside fibo-levels, which already provided support earlier. In the nearest future, the market may continue moving upwards to reach the area at 0.8685 – 0.8715.

As we сan see at the H1 chart, the pair rebounded from the retracement of 61.8% at 0.8395. On Friday, the market may test the area at 0.8490. If later the pair breaks this area, the price may continue growing towards the local high at 0.8530.

RoboForex Analytical Department