Analysis for February 6th, 2014
EUR USD, “Euro vs US Dollar”
Bulls are trying to keep price above level of 61.8%. If they succeed, pair will continue growing up towards a group of upper fibo-levels. I’ll move stop on my buy order into the black as soon as market reaches new maximum.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/February/06/eur_usdfib1.png)
At H1 chart we can see, earlier this week price rebounded from lower border of its target area, it happened right inside temporary fibo-zone. The first target for bulls is at local level of 38.2%. If market breaks it, pair will continue growing up.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/February/06/eur_usdfib2.png)
USD CHF, “US Dollar vs Swiss Franc”
At H4 chart, Franc rebounded from levels of 78.6% and then 61.8%. I’m keeping my sell order, although I’m still a bit in a drawdown. In the near term, market may start new descending movement.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/February/06/usd_chffib1.png)
At H1 chart, market rebounded from local level of 78.6%. Most likely, in the nearest future pair will continue falling down towards level of 61.8%. If price breaks it, bears will continue pushing pair downwards.
RoboForex Analytical Department