Fibonacci analysis for EUR/USD and EUR/GBP on March 2, 2016

Fibonacci analysis on March 2, 2016

EUR USD "Euro-Dollar"

Fibonacci analysis for EUR/USD March 2, 2016

Sliding of Euro-Dollar is slowing down, so the price can be corrected soon. Pullback from the lowest target area (1.0830) and beginning of upward correction toward the fibo-level 1.0920 are possible during the day.

Fibonacci analysis for EUR/USD March 2, 2016

On the one hour chart, the series of pullbacks from the lowest targets were happened, those are confirmed by the local fibo-levels. Later, the new upward correction and breakage of local maximum are possible.

EUR GBP "Euro to British Pound"

Fibonacci analysis for EUR GBP March 2, 2016

Cross pair correction is continuing, price tries to form pullback from the fibo-level 61,8% and moving average line. In the short term, the resuming of growth to the top levels (0,7990 - 0,8000) is possible, from which the beginning of more correction is possible as well.

Fibonacci analysis for EUR GBP March 2, 2016

The correction is developing on the one hour chart. Price tries to form the pullback from the local fibo-level 61,8%. It is quite likely that price will resume its growth toward the last week maximum during the day.

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.

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