Fibonacci Retracements Analysis 09.02.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

After rebounding from the group of upside fibo-levels, the EUR/USD pair resumed its decline. On Thursday, the local correction may take place, which may later be followed by a further decline of the price towards the area at 1.0575 – 1.0565.

At the H1 chart, the target of the current ascending correction is the retracement of 50%. If the price rebounds from this level, the pair may start a new descending movement towards the closest group of fibo-levels.

EUR GBP, “Euro vs Great Britain Pound”

After rebounding from the retracement of 38.2%, the EUR/GBP pair resumed moving downwards. The closest target for bears is again the group of fibo-levels near the correctional retracement of 78.6%.

At the H1 chart, the local correction may take place during the day. Later, the price resume falling towards its downside targets, which are confirmed by intraday fibo-levels.

RoboForex Analytical Department