Fibonacci Retracements Analysis 14.03.2014 (EUR/USD, USD/CHF)


Analysis for March 14th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar rebounded from several upper fibo-levels and started new correction. First target for bears is at level of 50%: if they break it, market will continue falling down. During correction, I opened sell order.

As we can see at H1 chart, price rebounded from target levels right inside temporary fibo-zone. Possibly, pair may break yesterday’s minimum until the end of today’s trading session. Instrument may reach level of 50% on Monday.

USD CHF, “US Dollar vs Swiss Franc”

After rebounding from several lower fibo-levels, Franc started local correction. I’ve got one short-term buy order with stop placed at minimum. Target is at level of 50%.

At H1 chart we can see, that bears reached their predicted targets right inside temporary fibo-zone. Most likely, pair will complete current local correction in the nearest future and bulls will start moving towards level of 50%. If later price breaks it, market will continue growing up.

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