Analysis for July 18th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still falling down fast towards the group of lower fibo-levels at 1.3465 – 1.3455. Yesterday during correction, I opened two more sell orders. Stop losses on all of my sell orders is already in breakeven and with a little bit of profit.
As we can see at H1 chart, price is still consolidating. According to analysis of temporary fibo-zones, price may reach its predicted targets in the beginning of the next week. If later pair rebounds from lower levels, market may start new correction.
USD CHF, “US Dollar vs Swiss Franc”
During local correction, I opened another buy order. Targets are still the group of upper fibo-levels at 0.9105 – 0.9095. Stop loss on my current orders is in breakeven; later I’m planning to increase my long position.
Franc rebounded from level of 61.8% (0.8895) and started new ascending movement. According to analysis of temporary fibo-zones, upper targets may be reached in the beginning of the next one. If later pair rebounds from predicted targets, market may start new and more serious correction.
RoboForex Analytical Department