Analysis for October 27th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is moving below retracement 38.2% (1.2688) quite steadily, which means that it may continue falling towards the group of lower fibo-levels at 1.2435 – 1.2425. In the future, after reaching these levels, the market may rebound from them and start a more serious correction.
The market has reached a local correctional retracement 38.2% and rebounded from it. Possibly, the price may try to break a local low during Monday. At the H1 chart, the predicted target area is confirmed by local retracements.
USD CHF, “US Dollar vs Swiss Franc”
After rebounding from retracement 78.6% and several less important levels, Franc is attempting to resume growing inside the main uptrend. The target for bulls is the group of upper fibo-levels.
During a local correction, I’ve opened an additional buy order. Last Friday evening, Franc rebounded from a local retracement 78.6%, which means that the pair may resume moving upwards. At the H1 chart, the upper targets are confirmed by several local retracements.
RoboForex Analytical Department