Fibonacci Retracements Analysis 18.02.2014 (EUR/USD, USD/CHF)


Analysis for February 18th, 2014

EUR USD, “Euro vs US Dollar”

Euro continues moving upwards and I deiced to move stops below latest minimum. Main target is still close to upper fibo-levels near 1.3800.

As we can see at H1 chart, market is getting closer to its next intermediate target. According to the analysis of temporary fibo-zones, price may reach level of 1.3800 by the middle of this week. Later this level may become starting point of new correction.

USD CHF, “US Dollar vs Swiss Franc”

Franc reached new local minimum. If later price starts new correction, I’ll increase my short position. Main target is close to several lower fibo-levels near 0.8800.

As we can see at H1 chart, price is getting closer to one of intermediate targets. If later price breaks it, bears will continue to reach lower fibo-levels. According to analysis of temporary fibo-zones, main targets may be reached in the nearest future.

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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.