Fibonacci Retracements Analysis 29.05.2017 (EUR/USD, EUR/GBP)

29.05.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair fixed below the group of upside fibo-levels, which means that it may start a new descending correction. However, to continue moving downwards, the market has to break the area at 1.1130 and stay below it.

It’s highly likely that the pair may test the group of fibo-levels at 1.1130 in the nearest future. The future scenario depends on how the price will move at this correctional level.

 

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is trading close to the group of fibo-levels at 0.8710. If the price breaks this level in the nearest future, the market may resume moving upwards to reach the area at 0.8790 – 0.8770.

As we сan see at the H1 chart, the pair is supported by 0.8710. If the price rebounds from this level during the day, the market may continue growing towards the closest target area at 0.8790 – 0.8770.

 

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