Analysis for February 12th, 2015
EUR USD, “Euro vs US Dollar”
After rebounding from the upper correctional levels for the second time, Eurodollar is trying to resume its descending movement. The closest target for bears is the group of fibo-levels at 1.0940. I’m planning to stop trading after the pair reaches the above-mentioned area.
As we can see at the H1 chart, the intermediate group of fibo-levels (1.1180) is also important. Possibly, the pair may start a new correction from this area, thus giving an opportunity to open another sell order later.
EUR GBP, “Euro vs Great Britain Pound”
The pair has rebounded from a correctional retracement 61.8% and several local levels near it. In the nearest future, the market is expected to complete the current correction and resume its descending movement.
As we can see at the H1 chart, the price may complete the current short-term correction and rebound from several local retracements. Later, the pair is expected to continue falling towards the predicted target area.
RoboForex Analytical Department