Fibonacci Retracements Analysis 20.01.2015 (EUR/USD, AUD/USD)
20.01.2015
Analysis for January 20th, 2015
EUR USD, “Euro vs US Dollar”
The market continues moving downwards. The closest target is the updated group of lower fibo-levels at 1.1485. If later the price rebounds from this area, the pair may start a new correction.
At the H1 chart, the lower predicted targets are confirmed by local retracements. In the nearest future, the price may reach retracement 50% and then resume moving towards its main targets.
AUD USD, “Australian Dollar vs US Dollar”
When the price was finishing its local correction last Friday, I opened a sell order. The target is the group of lower fibo-levels at 0.7950. After reaching this level, the pair may start an ascending correction.
At the H1 chart, the predicted targets are confirmed by local retracements. The pair may reach a correctional retracement 78.6% during the day. As soon as the market starts falling, I’m planning to move the stop loss on my order to the level where it was opened. Later I’m planning to open additional sell orders.
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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.