Fibonacci Retracements Analysis 20.02.2017 (EUR/USD, EUR/GBP)
EUR USD, “Euro vs US Dollar”
In case of the EUR/USD pair, the current ascending correction may yet continue and test the retracement of 50% and 1.0672 once again. If the price rebounds from this level, the market may start a new descending movement to reach the area at 1.0535 – 1.0525.
At the H1 chart, on Monday the pair may test the local correctional retracement of 61.8% at 1.0580. If the price rebounds from this level, the market may start a shot-term growth to reach the last week’s high.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair may yet continue growing towards its target area near the retracement of 38.2% at 0.8645. If later the price breaks this level and fixes above it, the market may continue moving to reach its next targets.
At the H1 chart, on Monday the pair may test the correctional retracement of 61.8% at 0.8513. if the price rebounds from this level, the market will continue moving upwards to reach the target area at 0.8658 – 0.8644.
RoboForex Analytical Department
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.