Fibonacci Retracements Analysis 27.06.2014 (EUR/USD, USD/CHF)


Analysis for June 27th, 2014

EUR USD, “Euro vs US Dollar”

EURUSD is probably trying to reverse to the downside after testing 78.6% point (1.3640). Target area is considered to be around Fibo levels congestion (1.3740 – 1.3465). Currently, I have one short trade with the stop loss above recent highs.

At H1 chart, we see that besides 78.6% level, support was provided also by local 61.8% level. By the way, pull back from those level has happened inside of the timing Fibo zone. It’s not excluded that inside of this day market will resume downtrend, it will allow to move stop-loss to breakeven.

USD CHF, “US Dollar vs Swiss Franc”

USDCHF is testing 78.6% level (0.8915) for the fourth time. It’s possible that another pullback from this level will allow buyers to regain control and drive the price to upper Fibo levels congestion (0.9100 – 0.9095).

At H1 chart, we see that 78.6% point is empowered by local retracement level of 61.8%. Pullback from this level has happened inside of timing Fibo zone, therefore it increases the odds of growth to upper targets.

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