Analysis for January 12th, 2015
EUR USD, “Euro vs US Dollar”
Euro is about to complete its local correction. The closest target is still the group of lower fibo-levels at 1.1485. If later Eurodollar rebounds from this area, the pair may start a new correction. Last week, I opened an additional sell order during this correction.
At the H1 chart, the lower predicted targets are confirmed by local retracements. The price reaches new lows every day, thus allowing me to hold my sell orders and open new ones.
USD CHF, “US Dollar vs Swiss Franc”
In case of Franc, the current targets indicate that the price may reach the group of fibo-levels at 1.0345 during the next several days. Possibly, bulls may reach a new high in the nearest future.
At the H1 chart, the upper targets are confirmed by local retracements. As soon as the price renews the latest maximum, I’m planning to move stop losses closer to the current prices in case the pair starts a fast correction.
RoboForex Analytical Department