Fibonacci Retracements Analysis 27.02.2017 (EUR/USD, EUR/GBP)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the correctional retracement of 61.8%. Consequently, in the nearest future the price may resume moving downwards to reach the downside target area at 1.0445 – 1.0440.
At the H1 chart, the downside target area is confirmed by local fibo-levels. On Monday, the market may resume falling and break the previous low.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair rebounded from the correctional retracement of 78.6% again and, as a result, resumed moving upwards. It’s highly likely that in the nearest future the price may continue growing to reach the retracement of 38.2%.
As we can see at the H1 chart, the pair may test the group of local fibo-levels at 0.8550. If the price rebounds from this target area, the market may start a short-term descending correction.
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