Fibonacci Retracements Analysis 13.01.2017 (EUR/USD, EUR/GBP)

13.01.2017

Analysis for January 13th, 2017

EUR USD, “Euro vs US Dollar”

Yesterday, the EUR/USD pair rebounded from the correctional retracement of 61.8%. As a result, in the nearest future the pair may resume falling. To confirm this scenario, the market has to fix below the retracement of 50%.

As we can see at the H1 chart, the pair is still moving near the group of upside fibo-levels. If the price rebounds from the retracement of 61.8% on Friday, the market will resume falling to reach the area at 1.0560.

 

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is still consolidating. Earlier, the price rebounded from the retracement of 61.8% and resumed growing. In the future, the market may continue moving upwards to reach the group of fibo-levels at 0.8890 – 0.8860.

At the H1 chart, after rebounding from the retracement of 38.2%, the pair resumed moving upwards. On Friday, the price may complete the local correction and continue growing. As a result, the market may break the local high quite soon.

 

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