Article By RoboForex.com
Analysis for February 4th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected and this correction is becoming deeper. Yesterday the price rebounded from the group of fibo-levels at 1.1515 and later was able to stay below retracement 50%. Possibly, the market may resume falling during the day.
At the H1 chart, the predicted target of this correction is confirmed by local retracements. Probably, in the nearest future, the market may resume moving downwards. In this case, I’m planning to increase my short position.
EUR JPY, “Euro vs Japanese Yen”
The pair has rebounded from the group of fibo-levels near a correctional retracement 61.8%, which means that the market mat resume the downtrend soon. I’m holding only one sell order so far, the stop loss is above the previous high.
At the H1 chart, the predicted target area of the correction is confirmed by local retracements. Right after the price is able to stay below 133.00, I’m planning to open additional sell orders and move the stop loss after the market.
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RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
