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Home / Analytics / Forex analysis & forecasts / Forex Technical analysis and forecasts / Fibonacci Retracements Analysis 05.04.2016 (EUR/USD, EUR/GBP)
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Fibonacci Retracements Analysis 05.04.2016 (EUR/USD, EUR/GBP)


Analysis for April 5th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is still moving inside the flat. Possibly, 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 correction is at the retracement of 50%. If the market rebounds from this area, the pair will start another ascending movement.

EUR GBP, “Euro vs Great Britain Pound”

Europound has reached its predicted targets and started a correction. It’s highly likely that the correction may yet continue, but later bulls may try to reach the next group of fibo-levels between 0.8060 – 0.8050.

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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