Fibonacci analysis on March 7, 2016
EUR USD "Euro-Dollar"
Euro-Dollar has tested precisely the top crowd of fibo-levels on the past Friday and after that went into correction. In the short term, the continuation of that correction is possible, but later the market may rise again toward the goals about 1.1095.
On the 1 hour chart, the goal for the completion of the correction is the local fibo-level 50%. If price forms the pullback from that level, that will be the first step to the growth continuation and further breakage of past week’s maximum.
EUR GBP "Euro to Pound"
The cross pair correction is getting deeper. But it is not excluded, that sliding will be continue further, the nearest goal for the bears is the crowd of fibo-levels about 0.7610.
On the 1 hour chart, the price formed pullback from the correction mark 61.8% that became a signal to the continuation of sliding. The lowest price area is confirmed by the local fibo-levels.