Fibonacci Retracements Analysis 29.03.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

After rebounding from the group of local fibo-levels, the EUR/USD pair resumed falling. Later, after finishing the local correction, the price may continue moving upwards to reach the area at 1.0935 – 1.0925.

At the H1 chart, the local correction may take place. The closest target is the retracement of 38.2%. If later the price rebounds from this level, the market may start a new descending movement.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair rebounded from the group of fibo-levels and started a fast descending correction. Possibly, soon the market may resume its growth towards the upside targets.

As we can see at the H1 chart, the pair rebounded from the retracement of 61.8%. Possibly, the price may test this level again. If the price rebounds from it, the market may start a new ascending movement towards the local high.

RoboForex Analytical Department