Fibonacci Retracements Analysis 14.04.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

After forming a quick bullish correction, the EUR/USD pair is back to falling. 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 rebounded from the retracement of 78.6% and resumed moving downwards. On Friday, the price may continue falling to reach the local low. The downside targets are confirmed by intraday fibo-levels.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair still 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.

At the H1 chart, the pair is moving near the closest group of fibo-levels. If later the price rebounds from these levels to the upside, the market may resume growing and reach its closest target at 0.8550.

RoboForex Analytical Department