Fibonacci Retracements Analysis 13.02.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

After rebounding from the correctional retracement of 50%, the EUR/USD pair resumed its decline and managed to fix below the retracement of 38.2%. It’s highly likely that in the nearest future the market may continue falling towards the target area at 1.0575 – 1.0565.

At the H1 chart, the pair rebounded from the local retracement of 50. It’s highly likely that the price may reach its downside targets, which are confirmed by local fibo-levels, until the end of today’s trading session.

EUR GBP, “Euro vs Great Britain Pound”

After rebounding from the correctional retracement of 38.2% several times, the EUR/GBP pair resumed moving downwards. The closest target for bears is the group of fibo-levels near the correctional retracement of 78.6%. If later the price rebounds from this area, the market may resume moving upwards.

At the H1 chart, the pair rebounded from the local correctional retracement of 38.2%. In the future, the price may continue falling towards its closest targets at 0.8425 – 0.8415, which are confirmed by intraday fibo-levels.

RoboForex Analytical Department