Analysis for June 12th, 2015
EUR USD, “Euro vs US Dollar”
After several rebounds from the group of upper fibo-levels, Eurodollar is attempting to resume falling. The closest target for bears is the group of fibo-levels at 1.0950. If the price breaks this area, it may continue falling much deeper.
As we can see at the H1 chart, the intermediate target (1.0950) is confirmed by local retracements. Possibly, after reaching this area, the price may start a short-term correction. I’ve moved the stop loss on my sell order to breakeven to decrease the risks.
EUR GBP, “Euro vs Great Britain Pound”
Europound may also continue the current descending correction. The price has rebounded again from the same group of fibo-levels it rebounded several days earlier. In the nearest future, the market may continue falling towards retracement 23.6%, which is confirmed by local retracements.
As we can see at the H1 chart, the closest target for bears is the group of fibo-levels at 0.7070. If the price breaks this area, the pair may continue falling much deeper.
RoboForex Analytical Department