Analysis for March 10th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has almost reached the targets specified yesterday (1.0650), where I’m planning to close most of my sell orders. Probably, the pair may rebound from this target area and start a new correction.
As we can see at the H1 chart, yesterday the price completed a local correction at retracement 23.6%. Possibly, during the day the pair may reach several new lows. After that, the market is expected to start a larger and deeper correction.
EUR GBP, “Euro vs Great Britain Pound”
The target is still at the group of lower fibo-levels. If later the market rebounds from these levels, the price may start a deeper correction. I’m staying out of the market right now due to the high volatility.
As we can see at the H1 chart, the target area is confirmed by local retracements. Yesterday the price completed a local correction at retracement 23.6%. We should also note that if the pair breaks its predicted targets, the market may continue falling faster.
RoboForex Analytical Department