Analysis for June 19th, 2015
EUR USD, “Euro vs US Dollar”
The local correction is taking place. If Eurodollar rebounds from the current levels, it may start a new ascending tendency. The closest target is the group of fibo-levels at 1.1550.
As we can see at the H1 chart, the target of the current correction is at local retracement 61.8%. If later the price rebounds from it, the market will start a new ascending movement. I’m planning to move the stop loss on my order to breakeven as soon as the market breaks the maximum.
EUR GBP, “Euro vs Great Britain Pound”
Europound continues falling. After the last descending movement, I’ve moved the stop loss on my current order to the local high. The target for the next several days is the group of fibo-levels at 0.7020.
As we can see at the H1 chart, the lower targets are confirmed by local retracements. If later the price rebounds from this area, I’ll close my current order. However, the door swings both ways, and if the pair breaks this area and stays below it, the market may continue falling much deeper.
RoboForex Analytical Department