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Fibonacci Retracements Analysis 12.04.2017 (EUR/USD, EUR/GBP)

12.04.2017

EUR USD, “Euro vs US Dollar”

It looks like the EUR/USD pair is finishing the correction. The closest target is the group of fibo-levels at 1.0470. If later the price rebounds from this area, the pair may start an ascending correction.

At the H1 chart, the closest group of fibo-levels provided resistance as the pair rebounded from them several times. As a result, in the nearest future the price may continue falling to reach its downside targets.

 

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is once again testing the group of local fibo-levels, from which it rebounded earlier. If this area provides support again, the market may resume moving upwards to reach the closest group of fibo-levels at 0.8640 – 0.8625.

At the H1 chart, the area reached by bears is confirmed by intraday fibo-levels. to confirm a new growth, the market has to break the area with fibo-levels and fix above it.

 

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Attention!

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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