Fibonacci Retracements Analysis 16.01.2015 (EUR/USD, AUD/USD)

16.01.2015

Analysis for January 16th, 2015

EUR USD, “Euro vs US Dollar”

The market is moving downwards. 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.



At the H1 chart, the lower predicted targets are confirmed by local retracements. The price is still moving close to its lows, thus allowing me to hold my sell orders, but I’m not planning to open new ones. 




AUD USD, “Australian Dollar vs US Dollar”

When the price was finishing its local correction, I opened a sell order. The target is the group of lower fibo-levels at 0.7800. After reaching this level, the pair may start an ascending correction.



At the H1 chart, the predicted targets are confirmed by local retracements. As soon as the market starts falling, I’m planning to move the stop loss on my order to the level where it was opened. Later I’m planning to open additional sell orders.



 
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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