Analysis for March 16th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is being corrected. Probably, later the price may continue falling towards the next group of fibo-levels at 1.0220. After reaching them, the market may start a larger ascending correction.
As we can see at the H1 chart, the lower target area is confirmed by local retracements. I’m planning to open another sell order with the stop loss at a local high when the market rebounds from a correctional retracement 38.2%.
EUR GBP, “Euro vs Great Britain Pound”
After rebounding from its target area, the pair has started a correction. Possibly, in the near term the price may continue falling towards deeper targets at 0.6900.
As we can see at the H1 chart, the current correction has reached retracement 50%. Possibly, later the price may resume moving downwards. The target area of the correction is confirmed by local retracement, which make this area even more important.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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