Fibonacci Retracements Analysis 24.03.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

After finishing the local correction, the EUR/USD pair resumed moving upwards. In the nearest future, the price may break the previous high. The closest target for bulls is the group of fibo-levels at 1.0875 – 1.0865.

As we can see at the H1 chart, yesterday the pair rebounded from the correctional retracement of 61.8% and, as a result, started growing fast. Consequently, in the future the market may break the local 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 to reach its monthly high.

At the H1 chart, the pair rebounded from the group of local fibo-levels as well. As a result, 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