Analysis for November 14th, 2013
Eurodollar is still being corrected. I closed my sell order, leaving only pending one. During the next several days, price is expected to start new descending movement towards several fibo-levels in lower area.
As we can see at H1 chart, pair rebounded from 78.6% inside one of temporary fibo-zones, which may result in new descending movement. I’m planning to start trading only after pair breaks local minimum.
Franc is also being corrected; target is still in upper area. However, in order to avoid any risks, I placed only one pending buy order, because this correction may yet continue for a while.
At H1 chart we can see, that correction reached 78.6% inside one of temporary fibo-zones. However, in order to start active trading it’s better to wait until bulls return to the market. After Franc breaks local maximum, where my pending buy order is placed, I’ll increase my long positions.
RoboForex Analytical Department