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Fibonacci Retracements Analysis 31.03.2017 (EUR/USD, EUR/GBP)

31.03.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair reached the group of fibo-levels at 1.0680. If the price rebounds from this area, the market may start a new ascending correction.

At the H1 chart, the area reached by the price is confirmed by intraday fibo-levels. If the price starts new correction, the closest target for bulls will be the group of fibo-levels at 1.0750 – 1.0740.

 

EUR GBP, “Euro vs Great Britain Pound”

In case of the EUR/GBP pair, the current correction turned out to be deeper, but, as a result, the price rebounded from the group of local fibo-levels. Possibly, the market may resume its growth towards the area at 0.8850 – 0.8830.

As we can see at the H1 chart, several local fibo-levels provided support. The short-term bullish target is the area at 0.8650 – 0.8640. if the pair rebounds from this area, the market may start a new bearish correction.

 

RoboForex Analytical Department

 

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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