Analysis for June 9th, 2015
EUR USD, “Euro vs US Dollar”
The pair is back to growing. The closest target is still the group of upper fibo-levels. Probably, the price may reach several new high during the next several days. I’m holding one buy order, but plan to increase my long positions in the future.
As we can see at the H1 chart, at the end of last week the price rebounded from retracement 61.8%. If later the pair rebounds from the upper targets, it may start a more serious correction. That’s why I’m planning to close my current order with the take profit.
EUR GBP, “Euro vs Great Britain Pound”
Europound has reached a new local high and I’ve moved the stop loss on my current order to breakeven. The main target is still the group of upper fibo-levels. If the market rebounds from them, it may start a descending correction.
As we can see at the H1 chart, the market has rebounded from retracement 50%. We should note that if bulls break the predicted target area even before the current correction finishes, the pair will continue growing much higher. In this case, I’m planning to start buying during the following correction.
RoboForex Analytical Department