Analysis for January 20th, 2014
EUR/USD
Euro is still moving downwards; target levels are very close. During correction, I opened another sell order; stop on both trades is placed at local maximum. If later price rebounds from lower levels, pair may start new and deeper correction.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/20/eur_usdfib1.png)
As we can see at H1 chart, after rebounding from correctional level of 50%, pair started falling down. According to analysis of temporary fibo-zones, predicted targets may be reached during Monday. If later price breaks lower levels, I’m planning to start selling again during pullback.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/20/eur_usdfib2.png)
USD/CHF
After reaching new maximum, Franc started correction, during which I opened my second buy order. Target for both trades is the same; it’s close to upper fibo-levels at 0.9180. Stops for both orders are placed at local minimum, but later I’m planning to move them higher.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/20/usd_chffib1.png)
As we can see at H1 chart, after rebounding from local level of 61.8%, price started growing up again. However, current correction is unlikely to be very deep, that’s why upper target levels may be reached quite soon.
RoboForex Analytical Department