Analysis for May 13th, 2013
EUR/USD
The bears continue pushing the pair downwards. The price has already reached the 61.8%, and right now, there is a possibility of a new correction. This consolidation may take several days, but later the pair is expected to continue falling down towards the target area.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/57/eur_usdfib1_30.png)
The targets of the correction are shown on the H1 chart. The bulls are unlikely to push the price higher that the level of 38.2%. If the price rebounds from it, the bears will become more dominant. According to the analysis of temporary fibo-zones, the pair may start a new descending movement on Wednesday.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/17/eur_usdfib2_30.png)
USD/CHF
Judging by a long candlestick formed on Friday, Franc has already started a correction. In order to increase my long position, I’ve placed a limit buy order. The target area is still at the level of 0.9640.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/10/usd_chffib1_28.png)
The first target for the bears will be the level of 38.2%. If the bulls rebound from this level, the pair will start a new ascending movement. Later, the target levels may become a starting point of a new correction.
RoboForex Analytical Department