Fibonacci Retracements Analysis 20.06.2014 (EUR/USD, USD/CHF)


Analysis for June 20th, 2014

EUR USD, “Euro vs US Dollar”

In spite of local correction, target is considered to be on 38,2% (1.3695 – 1.3686). I will mention that if price will break out this area, we can talk about reaching upper targets (1.3755 – 1.3750)

At H1 chart, correctional move is trying to find support on 38.2% (1.3603). As market is trading inside timing Fibo-zone, growth can be resumed as the day develops.

USD CHF, “US Dollar vs Swiss Franc”

USDCHF is continuing to move in correctional phase. Low can be broken out inside of this day, target for this move is located near area 0.8870 – 0.8865. Eventually, price can pull back from those levels and resume uptrend.

At H1 chart market is trading at 38.2% inside of Fibo timing zone. Probably, very soon price will pull back from current levels and resume downtrend.

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