Fibonacci Retracements Analysis 24.02.2017 (EUR/USD, EUR/GBP)

24.02.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is trying to rebound from the correctional retracement of 50%. If the price does rebound from this level, the market may resume moving downwards to reach the downside target area at 1.0445 – 1.0440.

At the H1 chart, the correction retracement of 50% is confirmed by local fibo-levels. Consequently, on Friday the market may resume falling and break the previous low.

 

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is testing the retracement of 78.6% again. If the price rebounds from this level, it may resume moving upwards. The closest target for bulls is the retracement of 50% at 0.8577.

As we can see at the H1 chart, the pair is testing the upside border of the closest group of fibo-levels. If the price rebounds from this target area, the market may start a new ascending movement and break the previous high.

 

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