Fibonacci Retracements Analysis 08.04.2016 (EUR/USD, EUR/GBP)

08.04.2016

Analysis for April 8th, 2016

EUR USD, “Euro vs US Dollar”

The market continues moving sideways. Earlier Eurodollar rebounded from the retracement of 38.2%. In the nearest future, the pair may continue moving upwards to reach the group of fibo-levels at 1.1520 – 1.1510.



At the H1 chart, the market has rebounded from the retracement of 78.6% twice, which means that the intraday correction has completed. Consequently, very soon the pair may break its previous high.




EUR GBP, “Euro vs Great Britain Pound”

The uptrend continues. Earlier, Europound reached several consecutive targets. In the nearest future, the pair may resume moving upwards to reach the group of upper fibo-levels at 0.8180 – 0.8165.



At the H1 chart, the pair has rebounded from the retracement of 38.2% for the second time in a row. Thus, the market may resume its growth and reach the group of upper fibo-levels. If later the price rebounds from them, Europound may start a new correction.



 
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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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