Analysis for December 29th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is being corrected on its way towards lower targets. I opened an additional sell order last week during a local correction. The target is still the group of lower fibo-levels.
At the H1 chart, the lower target area is confirmed by local retracements. Possibly, the pair may rebound from it in the nearest future and start a new and much deeper correction. Support from retracement 50% also indicates that the pair may resume falling.
USD CHF, “US Dollar vs Swiss Franc”
Franc has rebounded from retracement 61.8%, which was confirmed by local retracements. The stop loss on my buy order is already in the black. In the near term, the market is expected to continue growing towards its upper targets.
At the H1 chart, I’m planning to open another buy order after a local correction. The closest group of fibo-levels is at 0.99400. Possibly, the market may reach this target area until Wednesday.
RoboForex Analytical Department