Fibonacci Retracements Analysis 21.04.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

After rebounding from the retracement of 61.8%, the EUR/USD pair resumed falling. As a result, in the nearest future the market may continue moving downwards to reach the retracement of 23.6%.

As we can see at the H1 chart, the retracement of 61.8% was confirmed by several local fibo-levels. The closest target for bears is at is the area at 1.0650. after reaching this area, the market may start a new correction.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair rebounded from the retracement of 50%, which means that the price may resume moving downwards. The closest target for bears is the area at 0.8185.

After rebounding from the retracement of 50%, the market managed to fix below the one of 38.2%. The downside targets are confirmed by local fibo-levels. possibly, the price may break the previous lows on Friday.

RoboForex Analytical Department