Analysis for November 19th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected; the market rebounded from retracement 50%. Possibly, if the pair rebounds from the current levels, the price may resume falling in the nearest future. The target is still the group of lower fibo-levels.
As we can see at the H1 chart, bears have been supported by several local retracements. Moreover, the market has rebounded from an intraday retracement 78.6%. In the near term, the pair is expected to continue falling towards the group of lower fibo-levels at 1.2180 – 1.2200. If later the price rebounds from them, the market may start a new correction.
USD CHF, “US Dollar vs Swiss Franc”
This Monday, Franc rebounded from retracement 61.8%, which means that the pair may start a new ascending movement. During a local correction, I’ve opened another buy order, which is now in a drawdown. The target is still the group of upper fibo-levels.
As we can see at the H1 chart, the market has rebounded from retracement 78.6%. Earlier it rebounded from retracement 61.8% and several local retracements as well. If the price continue growing, I’m planning to move the stop loss after the market. The pair may break the maximum during the next several days.
RoboForex Analytical Department