Analysis for March 18th, 2014
EUR USD, “Euro vs US Dollar”
After rebounding from upper target levels, Eurodollar started consolidating. Probably, it nearest future current correction may continue up to level of 50%. If later price breaks, next target will be at level of 61.8%.
As we can see at H1 chart, price reached its upper target levels right inside temporary fibo-zone. Current correction rebounded from level of 78.6%. Possibly, price may break minimum by the end of this week.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still moving inside its predicted target area. If price is able to rebounds from these levels, pair may start new correction towards level of 50%.
At H1 chart we can see, price reached lower targets right inside temporary fibo-zone. Possibly, market may stop current consolidation during Tuesday. Closest target is at level of 0.8810.
RoboForex Analytical Department