Analysis for April 9th, 2015
EUR USD, “Euro vs US Dollar”
After rebounding from the group of upper fibo-levels several times, Eurodollar is back to falling. I’m still holding a sell order. Possibly, during Thursday the price may reach several new lows continue falling towards its lower targets.
As we can see at the H1 chart, the lower target area (1.0600) is confirmed by local retracements. Probably, later the pair may rebound from the above-mentioned area and start a more serious correction.
EUR GBP, “Euro vs Great Britain Pound”
In case of Euro pound, a local correction is taking place, after which the pair may continue falling. Earlier the pair rebounded from the group of upper fibo-levels several times. The closest target is the area close to several retracements at 0.7150.
As we can see at the H1 chart, the predicted target of the current descending movement is confirmed by local retracements. As soon as the market breaks the minimum, I’m planning to move the stop loss on my sell order to breakeven. Later I’m planning to increase my position.
RoboForex Analytical Department