Fibonacci Retracements Analysis 04.04.2016 (EUR/USD, EUR/GBP)


Analysis for April 4th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is still being corrected. Possibly, on Monday the price may return to the closest group of lower fibo-levels at 1.1320 – 1.1305. If later the pair rebounds from this area, the market may start a new growth towards its upside targets at 1.1475 – 1.1455.

At the H1 chart, the predicted target of the current local descending correction is confirmed by the retracement of 50%. If the marker rebounds from this area, the pair will continue moving upwards.

EUR GBP, “Euro vs Great Britain Pound”

Last Friday, Europound has reached its predicted targets and started a correction. It’s highly likely that the price may continue falling on Monday. Later, bulls may try to reach the next group of fibo-levels between 0.8060 – 0.8050.

As we can see at the H1 chart, the closest target of the correction is the retracement of 38.2% and the levels around it. If the pair rebounds from this area upwards, the market may resume its growth and break the highs reached last week.

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.