Fibonacci Retracements Analysis 28.01.2015 (EUR/USD, AUD/USD)

28.01.2015

Analysis for January 28th, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from the group of lower fibo-levels, Eurodollar started a new correction. Possibly, the price may rebound from retracement 50% during Wednesday. If it happens, the market may resume moving downwards and break the previous minimum.



At the H1 chart, the predicted target of this correction is confirmed by local retracements. I’m planning to open one more sell order after the price rebounds from retracement 50% and stays below 38.2%. In addition to that, I’m planning to move the stop loss on my current orders to yesterday’s high.




AUD USD, “Australian Dollar vs US Dollar”

The current correction is becoming deeper. The main target is still the group of lower fibo-levels at 0.7810. If the market rebounds from retracement 38.2%, it may resume moving downwards.



At the H1 chart, the predicted targets are confirmed by local retracements. In the near term, the current correction may yet continue, but as soon as the market starts falling again, 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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