Analysis for June 26th, 2014
EUR USD, “Euro vs US Dollar”
EURUSD had tested 78.6% level (1.3640) recently. As we’ve seen pullback from this level, descending trend can be resumed. Target is considered to be around Fibo levels congestion (1.3470 – 1.3465).
![](https://roboforex.com/uploads/roboforecast/roboforex_com/11/fibo1_1.png)
At H1 chart, we see that 78.6% is confirmed by local retracement 61.8%. Pullback from that area has happened inside of timing Fibo zone. It increases the odds of possible reversal to the downside.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/67/fibo2_1.png)
USD CHF, “US Dollar vs Swiss Franc”
USDCHF is testing 78.6% (0.8915) once again. Possibly, another pullback from this level will allow buyers to drive the market up to higher Fibo levels congestion (0.9100 – 0.9095).
![](https://roboforex.com/uploads/roboforecast/roboforex_com/96/fibo3_1.png)
At H1 chart we see that apart from 78.6%, support to the market was provided by local Fibo level 61.8%. I have now just one long trade with stop below recent low. Subsequently, if ascending trend will be confirmed, I will add to my long position.
RoboForex Analytical Department