Analysis for March 13th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has reached its previous target area and started a correction. Probably, later the price may continue falling towards the next group of fibo-levels at 1.0220. After reaching them, the market may start a larger correction.
As we can see at the H1 chart, the updated target area is confirmed by local retracements. If the market rebounds from a correctional retracement 50% in the nearest future, I’m planning to open another sell order.
EUR GBP, “Euro vs Great Britain Pound”
After rebounding from its target area, the pair has started a correction. Possibly, in the near term the price may continue falling towards deeper targets at 0.6900.
As we can see at the H1 chart, the current correction may yet continue towards retracement 61.8%. Possibly, later the price may resume moving downwards. The target area of the correction is confirmed by local retracement, which make this area even more important.
RoboForex Analytical Department