Analysis for January 27th, 2015
EUR USD, “Euro vs US Dollar”
Euro has finally reached the group of lower fibo-levels and started a new correction from this area. Possibly, in the future the price may test retracement 38.2%: if the pair rebounds from it, the market may resume moving downwards.
At the H1 chart, the predicted target of this correction is confirmed by local retracements. Probably, the market may continue being corrected during Tuesday. If later the pair rebounds from retracement 38.2%, I’m planning to increase my short position.
AUD USD, “Australian Dollar vs US Dollar”
The market is falling very fast. I opened one more sell order during a local correction. The target is the group of lower fibo-levels at 0.7810. The stop loss on my previous order has already been moved into the black.
At the H1 chart, the predicted targets are confirmed by local retracements. In the near term, the pair may start a correction, but as soon as the market starts falling again, I’m planning to move the stop loss on my previous order to the level where it was opened.
RoboForex Analytical Department