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Fibonacci Retracements Analysis 14.03.2016 (EUR/USD, EUR/GBP)

Analysis for March 14th, 2016

EUR USD, “Euro vs US Dollar”

The pair’s fast ascending movement was stopped by the group of local retracements at 1.1180. Possibly, the market may resume its decline, at least inside the current flat pattern. In this case, the closest target for bears will be the area between 1.0960 and 1.0930.

The upside target area, from which the price rebounded last week, was confirmed by local retracements as well. One of these days, the pair may start moving downwards to reach the group of lower fibo-levels near the retracement of 61.8%.

EUR GBP, “Euro vs Great Britain Pound”

The pair has rebounded from the group of local fibo-levels, which means that it may resume its decline. During this week, the closest target for bears will be the group of fibo-levels at 0.7610.

At the H1 chart, the pair has rebounded from the local retracement of 161.8% and started falling. The downside target area (0.7610) is confirmed by local retracements. The market may reach its targets in the middle of this week.

RoboForex Analytical Department

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