Analysis for October 14th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving close to the retracement of 50% and other levels near it. Possibly, in the nearest future the pair may test the group of upper fibo-levels. If it rebounds from this area, the market start a short-term correction, at least.
At the H1 chart, we can see the first downside target – the group of fibo-levels at 1.1320. However, there is a risk that the current ascending correction may yet continue, that’s why I’m staying out of the market so far and holding just a pending sell order.
EUR GBP, “Euro vs Great Britain Pound”
Europound has rebounded from one of the groups of fibo-levels, which means that the market may resume its decline. The closest target is the local area at 0.7275.
As we can see at the H1 chart, the upper target area, from which the pair rebounded yesterday, is confirmed by local retracements. It’s highly likely that in the nearest future the price may continue falling. I’m holding one sell order with the stop at the local high.
RoboForex Analytical Department