Analysis for April 23rd, 2014
EUR USD, “Euro vs US Dollar”
It looks like after rebounding several times from level of 50% (1.3790), Eurodollar is reversing upwards. I entered the market and opened buy order with stop placed at local minimum. Target for the next several days is close to the group of upper fibo levels at 1.3965 – 1.3975.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/April/23/eur_usdfib1.png)
As we can see at H1 chart, there are several additional fibo levels in upper target area. According to analysis of temporary fibo-zones, predicted targets may be reached until the end of this week. Later I’m planning to increase my long positions during correction.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/April/23/eur_usdfib2.png)
USD CHF, “US Dollar vs Swiss Franc”
After reaching main targets of correction, Franc started falling down again. I opened sell order with stop placed near latest maximum. Target is near the group of lower fibo levels at 0.8650 – 0.8640.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/April/23/usd_chffib1.png)
As we can see at H1 chart, bears reversed right inside temporary fibo-zone. Most likely, price will start new correction from intermediate fibo level (0.8785). During this correction, I’m planning to increase my position.
RoboForex Analytical Department