Fibonacci Retracements Analysis 16.05.2017 (EUR/USD)
EUR USD "Euro vs US Dollar"
The EUR/USD currency pair has broken the high and this triggered another ascending impulse. Earlier the pair rebounded from the correction mark 38.2%. The nearest target for the bulls is the price zone near 1.1130.
The upper targets are confirmed by intraday Fibo-levels on the H1 chart. In case the price rebounds from this zone we can see a possible descending correction.
EUR GBP "Euro vs Great Britain Pound"
When the pair rebounded from the lower Fibo-levels, this triggered a new rise of the pair. In the near-term we can see a further rise of the price towards a target zone near 0.8685 – 0.8715.
The pair has gone through the zone near 0.8490 with confidence and this triggered a bullish rally. Следующей целью выступает скопление фибо-уровней в районе 0,8605, от которого не исключено начало локальной коррекции.
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.