Fibonacci Retracements Analysis 23.01.2015 (EUR/USD, AUD/USD)

23.01.2015

Analysis for January 23rd, 2015

EUR USD, “Euro vs US Dollar”

Euro started falling. The closest target is the updated group of lower fibo-levels at 1.1000. If the price rebounds from local retracement 23.6%, the pair will continue moving towards the above-mentioned target.



At the H1 chart, the lower predicted targets are confirmed by local retracements. Yesterday, the price reached new weekly lows.  During the day, the pair may continue falling towards its lower targets, which may later become a starting point of a new and more serious correction.




AUD USD, “Australian Dollar vs US Dollar”

The market is moving downwards quite fast. I opened one more sell order during a local correction. The target is the group of lower fibo-levels at 0.7810. The stop loss on my previous order has already been moved into the black.



At the H1 chart, the predicted targets are confirmed by local retracements. In the nearest future, the pair may form a correction, but as soon as the market starts falling, I’m planning to move the stop loss on my previous order to the level where it was opened.



 
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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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