Fibonacci Retracements Analysis 11.02.2016 (EUR/USD, EUR/GBP)

11.02.2016

Analysis for February 11th, 2016

EUR USD, “Euro vs US Dollar”

After breaking last week’s high earlier, Eurodollar continues moving upwards. In the nearest future, the pair may continue growing towards the group of upper fibo-levels at 1.1390. If the price rebounds from this area, the market may start another correction.



At the H1 chart, the upper targets are confirmed by local retracements. It’s highly likely that on Thursday the price may test the group of fibo-levels and try to rebound from them.




EUR GBP, “Euro vs Great Britain Pound”

Europound continue growing very fast towards its upside targets. If the pair rebounds from them, it may start a new descending correction. However, if the pair breaks the target area, the market may continue growing inside the uptrend.



At the H1 chart, the upper targets are confirmed by local retracements. It’s highly likely that on Thursday Europound may reach a new high and test its predicted targets.



 
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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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