Analysis for January 29th, 2014
EUR/USD
Euro is still being corrected. I’m keeping my buy order with target close to several upper fibo-levels. I’ll move stop into the black as soon as price breaks latest maximum.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/29/eur_usdfib1.png)
At H1 chart we can see, market reached local correctional level of 50% and rebounded from it. In the future, price is expected to continue growing up towards intermediate target at level of 1.3810.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/29/eur_usdfib2.png)
USD/CHF
Franc is also still being corrected. I’m keeping my sell orders with target at several lower fibo-levels and planning to increase my position as pair continues falling down.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/29/usd_chffib1.png)
As we can see at H1 chart, price rebounded from level of 38.2% twice. I’ll move stop into the black as soon as price breaks local minimum. Closest target for bears is near several fibo-levels at 0.8800.
RoboForex Analytical Department