Analysis for January 21st, 2014
EUR/USD
Euro is still being corrected. Possibly, during the day, bulls may break latest maximum, but after that price may continue falling down towards lower fibo-levels at 1.3490. If later price rebounds from these levels, pair may start new and deeper correction.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/21/eur_usdfib1.png)
As we can see at H1 chart, target of current correction is at local level of 50%. According to analysis of temporary fibo-zones, this level may be reached during Tuesday. If later price rebounds from it, I’m planning to increase my short position.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/21/eur_usdfib2.png)
USD/CHF
Franc is moving very close to its latest maximums. During the next several days, price may continue growing up towards upper fibo-levels. If later Franc rebounds from this target area, bears may steal the initiative and start new and deeper correction.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/21/usd_chffib1.png)
As we can see at H1 chart, after rebounding from local level of 38.2%, price started growing up again. I’ll move stops below latest maximum as soon as pair breaks maximum. According to analysis of temporary fibo-zones, main target may be reached by Wednesday.
RoboForex Analytical Department