Fibonacci Retracements Analysis 24.04.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The market was opened with a gap up; the EUR/USD pair made a quick move upwards and reached the group of fibo-levels at 1.0900. In the nearest future, the market may start a new descending correction with the target at the retracement of 38.2% (1.0783).

At the H1 chart, the target area reached by the pair is confirmed by intraday fibo-levels. Later, the price may move downwards to reach the correctional retracement of 38.2%, which is inside today’s gap.

EUR GBP, “Euro vs Great Britain Pound”

At the daily chart, the EUR/GBP pair rebounded from the retracement of 38.2% for the third time. As a result, in the nearest future the market may move upwards to reach the retracement of 23.6%.

As we can see at the H4 chart, the pair rebounded from the group of local fibo-levels. Consequently, in the nearest future the market may grow towards the area at 0.8700.

RoboForex Analytical Department