Analysis for February 5th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still moving between levels of 61.8%. Probably, pair may form slight correction in the nearest future. However, if price rebounds from current levels, market will start new ascending movements. Otherwise, current correction may continue.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/February/05/eur_usdfib1.png)
At H1 chart we can see, that price rebounded from lower border of its target area right inside temporary fibo-zone. Closest target for bulls is at local correctional level of 38.2%. If market breaks it, pair will continue growing up.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/February/05/eur_usdfib2.png)
USD CHF, “US Dollar vs Swiss Franc”
At H4 chart, Franc rebounded from level of 61.8%. Later, after completing current correction, market may start new descending movement. I’m still a bit in a drawdown, that’s why I don’t open any new orders.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/February/05/usd_chffib1.png)
Market was just several pips shy to reach local correctional level of 38.2%. Two of the latest temporary fibo-zones indicated the exact points of reverse. Possibly, pair may reach new minimum during the day.
RoboForex Analytical Department