Fibonacci Retracements Analysis 12.04.2017 (EUR/USD, EUR/GBP)

12.04.2017

EUR USD, “Euro vs US Dollar”

It looks like the EUR/USD pair is finishing the correction. The closest target is the group of fibo-levels at 1.0470. If later the price rebounds from this area, the pair may start an ascending correction.

At the H1 chart, the closest group of fibo-levels provided resistance as the pair rebounded from them several times. As a result, in the nearest future the price may continue falling to reach its downside targets.

 

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is once again testing the group of local fibo-levels, from which it rebounded earlier. If this area provides support again, the market may resume moving upwards to reach the closest group of fibo-levels at 0.8640 – 0.8625.

At the H1 chart, the area reached by bears is confirmed by intraday fibo-levels. to confirm a new growth, the market has to break the area with fibo-levels and fix above it.

 

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