Fibonacci Retracements Analysis 15.05.2017 (EUR/USD)
EUR USD, “Euro vs US Dollar”
It seems that in the coming hours we can see another test of the upper Fido-levels. In case a yet another rebound from this price range occurs, the pair will probably move down towards a target zone near 1.0825. And if this zone is broken, the correction can continue even further towards Fibo-level 50% (1.0755).
The main target for this ascending correction is the 78.6% level (1.0982). If this Fibo-level is rebounded from, the price will probable continue moving downwards and break the recent low.
EUR GBP, “Euro vs Great Britain Pound”
The cross has rebounded from the low Fibo-levels yet another time and this forced the pair to resume moving higher. In the near term it is possible that the Euro climbs higher towards the target range 0.8685 - 0.8715.
The market once again failed to break through the price zone near 0.8490 and this made a near-term correction start. If the bulls manage to break through this Fibo-levels eventually, the price can rise higher towards the local target 0.8605.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.