Fibonacci Retracements Analysis 13.04.2017 (EUR/USD, EUR/GBP)
EUR USD, “Euro vs US Dollar”
It looks like the EUR/USD pair finished the correction. The closest target for bears 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 failed to stay above the correctional retracement of 78.6% and, as a result, resumed moving downwards. In the nearest future, the price may continue falling to reach its downside targets.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is trying to rebound from the group of fibo-levels reached earlier. Consequently, in the future the price 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 area reached by bears is confirmed by intraday fibo-levels. To confirm a new growth, the market has to break the area with fibo-levels and fix above it.
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