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Fibonacci Retracements Analysis 10.02.2016 (EUR/USD, EUR/GBP)

Analysis for February 10th, 2016

EUR USD, “Euro vs US Dollar”

After breaking last week’s high yesterday, 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. If the price rebounds from the correctional retracement of 50%, it may resume its ascending movement.




EUR GBP, “Euro vs Great Britain Pound”

Yesterday, Europound reached the group of upper fibo-levels and rebounded from them. However, the pair ay yet continue growing if it rebounds from the Moving Average. In this case, the next target will be the area at 0.7890.



At the H1 chart, the upper targets are confirmed by local retracements. It’s highly likely that on Wednesday Europound may resume its growth and break yesterday’s high.



 
RoboForex Analytical Department

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