Analysis for February 13th, 2015
EUR USD, “Euro vs US Dollar”
After rebounding from the upper correctional levels for the second time, Eurodollar attempted to resume its descending movement, but started a correction instead. The closest target for bears is the group of fibo-levels at 1.0940. I’m planning to stop trading after the pair reaches the above-mentioned area.
As we can see at the H1 chart, the intermediate group of fibo-levels (1.1180) is also important. The pair has rebounded from a correctional retracement 78.6%, which means that the market may move towards the above-mentioned levels. Possibly, the pair may start a new correction from this area, thus giving an opportunity to open another sell order later.
EUR GBP, “Euro vs Great Britain Pound”
The pair has rebounded from a correctional retracement 61.8% and several local levels near it. In the nearest future, the market is expected to complete the current correction and resume its descending movement.
As we can see at the H1 chart, the price may complete the current short-term correction and rebound from several local retracements. Later, the pair is expected to continue falling towards the predicted target area.
RoboForex Analytical Department