Fibonacci analysis on 29 February 2016
EUR USD "Euro dollar"![Fibonacci analysis for EUR USD "Euro dollar" on 29 February 2016](https://www.roboforex.ru/files/forecasts/feb2016/29/Image20160229132233001.png)
The euro is still falling. The cluster of Fibo levels around 1.0925 gave only local support to the price, leading to a short-term correction. The market has already struck the minimum of last Friday during the day and may further decline to the target area (1.0830).
![Fibonacci analysis for EUR USD "Euro dollar" on 29 February 2016](https://www.roboforex.ru/files/forecasts/feb2016/29/Image20160229132233002.png)
On the hourly chart, the intraday correction was completed at around 23.6%. Lower targets are confirmed by local Fibo levels, a retreat from which will signal the beginning of an upward correction.
EUR GBP "Euro to British pound"![Fibonacci analysis for EUR GBP "Euro pound" on 29 February 2016](https://www.roboforex.ru/files/forecasts/feb2016/29/Image20160229132233003.png)
The upward trend of the cross continues. In the short term, after the local correction, we are likely to see further progress of the price up. In the event of a release of the pair from upper levels (0.7990 - 0.8000) a downward correction will probably start.
![Fibonacci analysis for EUR GBP "Euro pound" on 29 February 2016](https://www.roboforex.ru/files/forecasts/feb2016/29/Image20160229132233004.png)
On the hourly chart a correction is developing. The price is trying to form a retreat from the local Fibo level of 50%. It is very likely that the price for Monday will resume growth in the direction of the maximum of last week.