Analysis for October 28th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. The pair has rebounded from a local retracement 50% (1.2725), which means that the price may resume falling. The main target is still the group of lower fibo-levels at 1.2435 – 1.2425.
At the H1 chart, the predicted target area is confirmed by local retracements. Considering that the pair has rebounded from retracement 50%, I continue holding my sell orders opened earlier. Possibly, the price may try to break a local low during this trading week.
USD CHF, “US Dollar vs Swiss Franc”
Franc is attempting to start a new ascending movement. The target for bulls is the group of upper fibo-levels. If the price rebounds from retracement 38.2%, the market may resume growing. In the near term, the pair is expected to break a local high.
At the H1 chart, the upper targets are confirmed by several local retracements. I’m planning to open an additional buy order as soon as the price breaks a local retracement 23.6% upwards and stays above it.
RoboForex Analytical Department