Fibonacci Retracements Analysis 09.01.2014 (EUR/USD, USD/CHF)
09.01.2014
Analysis for January 9th, 2014
EUR/USD
Eurodollar started new correction; the first target for bulls is at level of 38.2%. If later price rebounds from it, market may start new descending movement and break minimum.
At H1 chart, pair rebounded from lower fibo-levels right inside temporary fibo-zone. I closed all my orders earlier and right now is out of the market. Later I’m planning to open several buy orders.
USD/CHF
Franc reached its target and rebounded from it. Main target of current correction is at level of 38.2%. If price breaks this level, market will start new and deeper descending movement.
At H1 chart we can see, that market from upper fibo-levels right inside temporary fibo-zone. Take Profits on my buy orders worked. During correction, I’ll try to find good opportunity to open several short-term sell orders.
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