Fibonacci Retracements Analysis 15.01.2014 (EUR/USD, USD/CHF)
15.01.2014
Analysis for January 15th, 2014
EUR/USD
After rebounding from level of 38.2% several times, Eurodollar started moving downwards. Possibly, price may break minimum in the nearest future. Main target is at lower levels, 138.2% and 61.8%.
At H1 chart, there is one more fibo-level, 423.6%, inside target area. According to analysis of temporary fibo-zones, predicted targets may be reached on Wednesday. If later pair rebounds from them, price may start new correction.
USD/CHF
The same is in case of Franc: correction faced resistance from level of 38.2%. It looks like buyers are going to break previous maximum. Target is close to the group of upper fibo-levels.
Market is moving upwards quite fast. According to analysis of temporary fibo-zones, predicted targets may be reached in the middle of this week. In the future, I’m planning to increase my long position.
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.