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Home / Analytics / Forex analysis & forecasts / Forex Technical analysis and forecasts / Fibonacci analysis for EUR/USD and EUR/GBP on March 3, 2016
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Fibonacci analysis for EUR/USD and EUR/GBP on March 3, 2016

03.03.2016
Fibonacci analysis on March 3, 2016

EUR USD "Euro-Dollar"


Fibonacci analysis for EUR USD "Euro-Dollar" on March 3, 2016

Price has formed the second pullback from the low crowd of fibo-levels (1, 0830) that indicated the beginning of correction. Short-term target is the price area about 1.0920, from which the resuming of declining is possible.



Fibonacci analysis for EUR USD "Euro-Dollar" on March 3, 2016

On the 1 hour chart, the top targets is are confirmed by the local fibo-levels, and price had the time to upgrade the yesterday maximum. It is quite likely that price keeps growing during the day.



EUR GBP "Euro to Pound"

Fibonacci analysis for EUR GBP "Euro to Pound" on March 3, 2016

Correction of the cross pair is kept. It is not excluded that in the short term the declining will keep. The nearest target for Bears is the crowd of fibo-levels about 0.7610.



Fibonacci analysis for EUR GBP "Euro to Pound" on March 3, 2016

On the 1 hour chart, the price could test the correction point 50%, pullback from which is the signal to resuming the declining. The lowest price area is confirmed by the local fibo-levels.

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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.