Fibonacci Retracements Analysis 05.04.2016 (EUR/USD, EUR/GBP)

05.04.2016

Analysis for April 5th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is still moving inside the flat. Possibly, the price may return to the closest group of lower fibo-levels at 1.1320 – 1.1305. If later the pair rebounds from this area, the market may start a new growth towards its upside targets at 1.1475 – 1.1455.



At the H1 chart, the predicted target of the current correction is at the retracement of 50%. If the market rebounds from this area, the pair will start another ascending movement.




EUR GBP, “Euro vs Great Britain Pound”

Europound has reached its predicted targets and started a correction. It’s highly likely that the correction may yet continue, but later bulls may try to reach the next group of fibo-levels between 0.8060 – 0.8050.



At the H1 chart, the closest target of the correction is the retracement of 38.2% and the levels around it. If the pair rebounds from this area upwards, the market may resume its growth and break the highs reached last week.



 
RoboForex Analytical Department

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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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