Fibonacci Retracements Analysis 11.04.2016 (EUR/USD, EUR/GBP)


Analysis for April 11th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the retracement of 38.2%, Eurodollar is trying to resume its growth. The target is still the group of upper fibo-levels at 1.1520 – 1.1510. Possibly, the pair may reach a new high on Monday.

At the H1 chart, the market has rebounded from the retracement of 78.6% twice. The upside targets are confirmed by local retracements. It’s highly likely that very soon the pair may resume its ascending movement.

EUR GBP, “Euro vs Great Britain Pound”

During the correction, Europound was supported by the retracement of 38.2% as the price rebounded from it. It’s highly likely that in the future the pair may resume moving upwards to reach the group of upper fibo-levels at 0.8060 – 0.8050.

At the H1 chart, the predicted target of the current correction is confirmed by intraday retracements. If the price is able to stay above the retracement of 38.2%, the market may resume its growth and break the local maximum very soon.

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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.