Analysis for June 24th, 2014
EUR USD, “Euro vs US Dollar”
EURUSD is possibly continuing to move in correctional phase. Fibo level 78.6% is considered to be a support. If price can pull back from this level, new descending wave can be initiated to lower Fibo levels congestion (1.3470 – 1.3465)
At H1 chart price comes closer to timing Fibo-zone. It’s not excluded that pull back from 78.6% level will be formed inside of this zone. Again I have short trade with stop loss above recent high.
USD CHF, “US Dollar vs Swiss Franc”
USDCHF is also traded on the local Fibo level 78.6% (0.8924). If today price reverses from this level, buyers can be in control again. Target is located near Fibo levels congestion (0.9100 – 0.9095).
At H1 chart price is traded near timing Fibo zone. If inside of this zone price pulls back from 78.6%, I will add to my longs. Probably, market can set a new high as the day develops.
RoboForex Analytical Department