Fibonacci Retracements Analysis 20.03.2017 (EUR/USD, EUR/GBP)

20.03.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is moving to break the retracement of 78.6% downwards. If the price is able to fix below this level, the market may continue falling to reach the closest target, which is the retracement of 61.8%.

At the H1 chart, the pair is moving near the group of fibo-levels at 1.0735. If the price is able to stay below this area, the market may continue moving downwards to reach the target area at 1.0690.

 

EUR GBP, “Euro vs Great Britain Pound”

In case of the EUR/GBP pair, the correction towards the retracement of 50% at 0.8625 may yet continue. If later the price rebounds from this level, the market may start a new ascending movement to reach its upside targets at 0.8965.

At the H1 chart, the downside targets are confirmed by intraday fibo-levels. As a result, on Monday the price may continue falling and try to rebounds from the retracement of 50%.

 

RoboForex Analytical Department

 

Attention!

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.

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