Fibonacci Retracements Analysis 23.03.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still moving upwards. The closest target for bulls is the group of fibo-levels at 1.0875 – 1.0865. If later the price rebounds from this area, the market may start a short-term descending correction.

At the H1 chart, the pair rebounded from the correctional retracement of 50%.  As a result, in the nearest future the market may break the previous high and continue growing to reach the upside targets.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is trying to rebound from the group of fibo-levels reached earlier. If the price is able to fix above this area, the market may resume moving upwards.

At the H1 chart, the pair rebounded from the group of local fibo-levels as well. The short-term target for bulls is the area at 0.8675. After reaching this level, the market may start a descending correction.

RoboForex Analytical Department