Fibonacci Retracements Analysis 17.04.2017 (EUR/USD, EUR/GBP)
EUR USD, “Euro vs US Dollar”
After finishing the local correction, the EUR/USD pair is resuming its decline towards 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 61.8% on Monday and may resume moving downwards. It’s highly likely that in the nearest future the market may break the local low.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair still is trying to rebound from the group of fibo-levels reached earlier. Later, the price may resume moving upwards to reach the closest target at 0.8640 – 0.8625.
To confirm a new growth, the market has to break the closest group of fibo-levels, where the pair is moving right now, and fix above them. If it happens, the pair may start a short-term growth towards its closest target area at 0.8550.
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