Analysis for July 15th, 2014
EUR USD, “Euro vs US Dollar”
Euro is trying to stop correction, which is already taking too much time. Target for bulls is still the group of lower fibo-levels at 1.3465 – 1.3455. I’ve got two sell orders with stop loss placed near previous high.
As we can see at H1 chart, price rebounded from local fibo-level of 61.8% (1.3650) inside temporary zone and started moving downwards. Later, pair rebounded from small level of 78.6% (1.3640) and continued falling down.
USD CHF, “US Dollar vs Swiss Franc”
Franc is also trying to complete current correction and start new ascending movement. Targets is still the group of upper fibo-levels at 0.9105 – 0.9095. I’m planning to increase my long position in the nearest future; stop loss on my current order was moved below minimum.
Yesterday, Franc successfully rebounded from level of 61.8% (0.8895). Considering that it happened inside temporary fibo-zone, market is expected to new ascending movement.
RoboForex Analytical Department