Fibonacci Retracements Analysis 14.01.2014 (EUR/USD, USD/CHF)
14.01.2014
Analysis for January 14th, 2014
EUR/USD
Just as we expected, Eurodollar continued moving upwards and reached new maximum. Yesterday I opened buy order; stop is already in the black. Closest target is at correctional level of 50%. If price rebounds from it, pair may reverse downwards.
At H1 chart, local correction reached level of 38.2% and then pair rebounded from it. According to analysis of temporary fibo-zones, predicted target at level of 50% may be reached during the next several hours.
USD/CHF
Franc is also still being corrected; target is at level of 50%. If later price rebounds from it, market may start new ascending movement.
Correction reached local level of 50%. Bears’ first attempt to break minimum failed, but they may try again and succeed in the nearest future. Possibly, price may reach its main target during the day.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.