Fibonacci Retracements Analysis 25.04.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still consolidating. Yesterday, the market was opened with a gap up, but the price faced resistance from the group of local fibo-levels. In the nearest future, the market may be corrected towards the retracement of 38.2% at 1.0783.

At the H1 chart, the pair once again rebounded from the target area reached earlier. Later, the price may move downwards to reach the correctional retracement of 38.2%, which is inside the gap.

EUR GBP, “Euro vs Great Britain Pound”

After the price rebounded from the group of downside fibo-levels, the market was opened with a gap. At the moment, the EUR/GBP pair is consolidating. In the nearest future, the market may be corrected towards the retracement of 50%. If later the pair rebounds from this level, the pair may move upwards to reach the target area at 0.8700.

As we can see at the H1 chart, the target of the current correction is the retracement of 50% at 0.8410. If later the price rebounds from this level, the market may resume growing and break the local high.

RoboForex Analytical Department