Analysis for January 31st, 2014
EUR/USD
Euro is still being corrected. Earlier price rebounded from level of 61.8% and right now is testing it again. If pair rebounds from this level again, market may start growing up. Otherwise, it will move towards level of 78.6%.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/31/eur_usdfib1.png)
At H1 chart we can see, that there are two additional fibo-levels below level of 61.8%. According to analysis of temporary fibo-zones, price may rebound from these levels during Friday.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/31/eur_usdfib2.png)
USD/CHF
Despite current correction, main target for Franc is still near several lower fibo-levels. This is the reason why I expect price to break local minimum in the beginning of the next week. I’m planning to open additional sell order right after market starts moving downwards.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/January/31/usd_chffib1.png)
As we can see at H1 chart, price is moving at level of 50%. Pair has already reached one of temporary fibo-zones, that’s why it may rebound from the above-mentioned level in the nearest future. Later, instrument is expected to move towards several fibo-levels close to 0.8930.
RoboForex Analytical Department