Fibonacci Retracements Analysis 11.02.2014 (EUR/USD, USD/CHF)


Analysis for February 11th, 2014

EUR USD, “Euro vs US Dollar”

After rebounding from level of 61.8%, Euro started growing up. At H4 chart we can see, that bulls have several intermediate fibo-levels in front of them, where price may start local corrections. Main target is near several upper fibo-levels at 1.3970.

Market moved very close to level of 78.6%. Possibly, price may break this level during the day and then continue growing up. Closest target for bulls is near several fibo-levels at 1.3740.

USD CHF, “US Dollar vs Swiss Franc”

Franc continues moving downwards, so I’ve decided to move stop on my sell orders into the black. Right now, market got very close to level of 61.8%. If bears break it, pair will continue falling down towards level of 78.6%.

At H1 chart, closest target is at level of 0.8910, which may later become a starting point of new short-term correction. According to analysis of temporary fibo-zones, price may reach its target levels during Tuesday.

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.