Analysis for May 6th, 2014
EUR USD, “Euro vs US Dollar”
After rebounding from level of 50% (1.3788) several times, Euro started growing up. Possibly, price may reach new maximum during the day. Closest target for bulls is the group of fibo levels at 1.3955.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/May/06/eur_usdfib1.png)
As we can see at H1 chart, pair rebounded from local level of 61.8% (1.3844) close to temporary fibo-zone and started new correction. Stop on both buy order is already in the black. I’m planning to move stops higher as price continues growing up.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/May/06/eur_usdfib2.png)
USD CHF, “US Dollar vs Swiss Franc”
After slight consolidation, Franc broke local minimum. Yesterday I opened another sell order. Main target for bears is the group of fibo levels at 0.8695.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/May/06/usd_chffib1.png)
As we can see at H1 chart, pair rebounded from local level of 78.6% right inside temporary fibo-zone and completed current correction. Intermediate target for bears is the group of fibo levels at 0.8720 – 0.8715: if they break this target area, market will continue moving downwards.
RoboForex Analytical Department