Fibonacci Retracements Analysis 25.05.2017 (EUR/USD, EUR/GBP)
EUR USD "Euro vs US Dollar"
It is not improbable that the pair tests a group of Fibo-levels near 1.1350. It is very likely that this price area is rebounded from and starts a new bearish correction towards 1.1130.
The upper targets are confirmed by the intraday Fibo-levels on H1-chart. Consequently, in the course of the day the local high can be broken through, but after that the market can return to the price area 1.1230 - 1.1220.
EUR GBP "Euro vs British Pound"
The cross has rebounded from the Fibo-levels which earlier acted as a support several times. Thus, price likely to continue rising towards the price area near 08710 - 0.8685 and if the lower edge of it is rebounded from, a descending correction can occur.
On the H1-chart the correction mark 38.2% has rebounded from; and this triggered a further growth of the pair. That said, if we see a rebound from the upper targets in the course of the day, a descending correction can start.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.