Analysis for March 20th, 2014
EUR USD, “Euro vs US Dollar”
Yesterday price reached level of 50% and my Take Profit was very successful. Earlier, Eurodollar rebounded from upper target levels and started correction. Probably, pair may rebound from level of 50% and start new ascending movement.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/March/20/eur_usdfib1.png)
As we can see at H1 chart, price reached its lower targets right inside temporary fibo-zone. While price was rebounding from current levels, I opened buy order with tight stop. If pair starts moving upwards, I’ll move stop on my order into the black as soon as possible.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/March/20/eur_usdfib2.png)
USD CHF, “US Dollar vs Swiss Franc”
Franc made strong movement and reached level of 50%; my Take Profit was very successful. In addition to that, bulls are still pushing price upwards and may reach level of 61.8% quite soon. Later instrument is expected to rebound from this level and start new descending movement.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/March/20/usd_chffib1.png)
At H1 chart we can see, price is getting closer to temporary fibo-zone, which means that pair may rebound from level of 61.8% during the day. After that, I’ll try to find opportunity to enter the market and start selling.
RoboForex Analytical Department