Fibonacci Retracements Analysis 27.01.2017 (EUR/USD, EUR/GBP)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is trying to fix below the correctional retracement of 38.2%. If bears keep the price below this level, the market may continue falling towards the area at 1.0580 – 1.0570.

At the H1 chart, the target of the local correction is the retracement of 50% at 1.0711. If later the price rebounds from this levels, the market may resume moving downwards to reach its downside targets.

EUR GBP, “Euro vs Great Britain Pound”

After breaking the retracement of 61.8%, the EUR/GBP pair started consolidating. However, in the nearest future the market may continue falling towards the group of fibo-levels at 0.8430 – 0.8420.

As we can see at the H1 chart, the pair rebounded from the local correctional retracement of 38.2%. Consequently, in the nearest future the price may break the low and reach its downside targets, which are confirmed by intraday fibo-levels.

RoboForex Analytical Department