Analysis for March 19th, 2014
EUR USD, “Euro vs US Dollar”
After rebounding from upper target levels, Eurodollar started consolidating. Probably, it nearest future current descending correction may continue up to level of 50%. If later price breaks, market may start deeper correction.
As we can see at H1 chart, price reached its upper target levels right inside temporary fibo-zone. After that, local correction reached level of 78.6%. Possibly, in the nearest future price may continue moving towards level of 50%.
USD CHF, “US Dollar vs Swiss Franc”
At H4 chart, Franc is trying to rebound from lower levels again. I’ll move stop on my buy order into the black as soon as market breaks local maximum. Short-term target is at level of 50%.
At H1 chart we can see, price rebounded from lower targets right inside temporary fibo-zone. Closest target is at level of 0.8810, where there are several additional fibo levels. After reaching them, pair may start new correction.
RoboForex Analytical Department