Fibonacci Retracements Analysis 22.03.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is consolidating near the group of local fibo-levels. In the nearest future, the market may resume moving upwards to reach the next target area at 1.0875 – 1.0865.

At the H1 chart, the target of the current correction is the retracement of 50%.  If later the price rebounds from this level, the market may start a new ascending movement and break the previous high.

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 retracement of 50% is confirmed by local fibo-levels. Earlier, the pair rebounded from the retracement of 61.8%. As a result, on Wednesday the price may continue falling.

RoboForex Analytical Department