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Fibonacci Retracements Analysis 30.03.2016 (EUR/USD, EUR/GBP)

Analysis for March 30th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is testing the group of upper fibo-levels once again. If the price rebounds from this area, the pair may resume falling towards its downside targets at 1.1065 – 1.1050.

At the H1 chart, the upside targets are confirmed by local retracements. On Wednesday, the price may fall to reach the correctional retracement of 38.2%. If the market breaks it, the pair will continue falling to react the next downside targets.

EUR GBP, “Euro vs Great Britain Pound”

Europound is still being corrected above the Moving Average. In nearest future, the market may resume its ascending movement towards the closest group of fibo-levels between 0.8000 – 0.7990. If the price rebounds from this area, the marker may start a new descending correction.

As we can see at the H1 chart, the pair has rebounded from the retracement of 61.8% several times. Consequently, the pair may resume moving upwards and stay above last Fridays’ highs. Otherwise, if the price breaks the retracement of 61.8% and surrounding levels, it may start a deeper descending correction.

RoboForex Analytical Department

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