Analysis for November 15th, 2013
It looks like Eurodollar is about to finish current correction. Nevertheless, it’s quite risky to keep sell orders, that’s why I’m leaving only pending one. Target is still lower area with several fibo-levels inside it.
As we can see at H1 chart, pair rebounded from 78.6% inside one of temporary fibo-zones, which is, as a matter of fact, good signal for new descending movement. In the future, pair may start deeper and more serious correction from lower levels.
Franc is also completing current correction, but just like with Euro, I’m not in a hurry to open any orders. I have only one pending buy order right now, but will increase my position after price starts moving towards its target area.
At H1 chart we can see, Franc rebounded from local level of 78.6% inside one of temporary fibo-zones. Possibly, bulls will dominate during the next several days, they have to push pair upwards for more than 100 pips.
RoboForex Analytical Department