Analysis for March 27th, 2015
EUR USD, “Euro vs US Dollar”
It took Eurodollar three times to break retracement 50%, which was confirmed by several local retracements. Probably, this fact indicates that the downtrend may resume. I opened a short-term order during a correction.
As we can see at the H1 chart, the target of the current correction was confirmed by local retracements. The closest target is the group of intermediate fibo-levels at 1.0700. After reaching it, the market may start a local pullback upwards.
EUR GBP, “Euro vs Great Britain Pound”
Probably, the pair has completed its correction at retracement 61.8%, which means that the main downtrend may resume. I’ve got one sell order with the stop loss placed at a local high.
As we can see at the H1 chart, the upper predicted target area was confirmed by local retracement. Most likely, the price will complete the current local correction quite soon and continue falling. In this case, I’ll move the stop loss on my current order to breakeven.
RoboForex Analytical Department