Fibonacci Retracements Analysis 29.04.2014 (EUR/USD, USD/CHF)


Analysis for April 29th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar rebounded from level of 50% (1.3790) several times and started new ascending movement. Target for bulls is still the group of upper fibo levels at 1.3965 – 1.3975. Possibly, price may break maximum (1.3905) during the next several days.

At H1 chart, pair started moving upwards after rebounding from local level of 61.8% (1.3813). Yesterday’s descending movement reached all of my stops, so I’ve entered the market again. According to analysis of temporary fibo-zones, predicted targets may be reached by the end of this week.

USD CHF, “US Dollar vs Swiss Franc”

Franc started new correction. Earlier market rebounded from the group of fibo levels at 0.8845 – 0.8855 several times and then started falling down. Main target is still close to the group of lower fibo levels at 0.8650 – 0.8640.

As we can see at H1 chart, Franc couldn’t stay below its intermediate target and started correction. Most likely, price will test level of 78.6% during the day. If market rebounds from it, instrument is expected to continue falling down.

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