Analysis for April 13th, 2015
EUR USD, “Euro vs US Dollar”
After rebounding from the group of upper fibo-levels several times, Eurodollar is back to falling. I’m still holding a sell order. Possibly, during the next several days the price may reach several new lows and continue falling towards its lower targets.
As we can see at the H1 chart, the price has reached the group of intermediate fibo-levels at 1.0600, but hasn’t started any serious corrections after that. The lower targets are confirmed by more and more local retracements.
EUR GBP, “Euro vs Great Britain Pound”
Euro pound has resumed falling and broken a local low. Earlier the pair rebounded from the group of upper fibo-levels several times. The closest target is the area close to several retracements at 0.7150.
As we can see at the H1 chart, the predicted target of the current descending movement is confirmed by local retracements. Possibly, the market may rebound from this area upwards and start a correction. However, the door swings both ways – if bears break it, they will continue pushing the market towards new lows.
RoboForex Analytical Department