Fibonacci Retracements Analysis 14.02.2017 (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. Yesterday, the price broke the local low. 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 downside targets are confirmed by intraday fibo-levels. Possibly, the pair may break the previous low during the day. If later the market rebounds from the downside targets, the price may start a new ascending correction.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair rebounded from the group of local fibo-levels and tried to resume its growth. The closest target for bulls is the retracement of 38.2%. If later the price rebounds from this level, the market may continue moving upwards.

At the H1 chart, the upside targets are confirmed by local fibo-levels. On Tuesday, the local correction may take place, but later the market is expected to continue growing.

RoboForex Analytical Department