Fibonacci Retracements Analysis 28.02.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the correctional retracement of 61.8% twice and, as a result, started consolidating. Meanwhile, in the future the price may resume moving downwards to reach the downside targets at 1.0445 – 1.0440.

At the H1 chart, the retracement of 61.8%, which provided resistance, is confirmed by intraday fibo-levels. In the nearest future, 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% twice and, as a result, resumed moving upwards. Consequently, during the next several days the price may continue growing to reach the group of fibo-levels at 0.8645 – 0.8635.

As we can see at the H1 chart, the closest target is at 0.8550. If later the price rebounds from this area, the market may start a local descending correction.

RoboForex Analytical Department