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Fibonacci Retracements Analysis 12.02.2016 (EUR/USD, EUR/GBP)

Analysis for February 12th, 2016

EUR USD, “Euro vs US Dollar”

In case of Eurodollar, the uptrend continues. Possibly, in the nearest future the pair may test the group of upper fibo-levels again. If the price rebounds from this area, the market may start another correction.

At the H1 chart, the market has rebounded from the local retracement of 50%. Consequently, on Friday, the pair may continue growing towards its upper targets and break yesterday’s high.

EUR GBP, “Euro vs Great Britain Pound”

Europound has successfully reached its upside targets and right now is being corrected. During the day, the price may continue falling towards the group of local retracements at 0.7690.

At the H1 chart, the closest targets of the current descending movement are confirmed by local retracements. If the pair rebounds from this area, Europound may start a short-term ascending correction.

RoboForex Analytical Department

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