Fibonacci Retracements Analysis 30.05.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is testing the group of local fibo-levels at 1.1130. If later the price fixes below this area, it may continue its descending movement to reach the next target at 1.1025 – 1.0980.

As we can see at the H1 chart, the pair made three attempts to fix above the group of upside fibo-levels, but failed and resumed falling. On Tuesday, the local correction may take place, but later the price is expected to continue moving downwards to reach its downside targets.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is trading close to the group of fibo-levels at 0.8685. If the price rebounds from this level in the nearest future, the market may resume moving upwards to reach the area at 0.8790 – 0.8770.

At the H1 chart, the pair reached the local correctional retracement of 50% and the downside border of the current trading range. If the price rebounds from these levels soon, the market may resume growing and break the previous high.

RoboForex Analytical Department