Fibonacci Retracements Analysis 29.01.2014 (EUR/USD, USD/CHF)
29.01.2014
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.
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.
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.
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.
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