Analysis for May 14th, 2013
EUR/USD
The bears were stopped by the level of 61.8% and started a new correction. In the near term, the price may continue consolidating for a while. However, later it is expected to continue falling down towards the target area, formed by three fibo-levels..
![](https://roboforex.com/uploads/roboforecast/roboforex_com/57/eur_usdfib1_31.png)
At the H1 chart, the pair has almost reached the level 38.2& of the previous descending movement. Most likely, the price will move sideways during the next 24 hours. According to the analysis of temporary fibo-zones, the pair may start a new descending movement tomorrow.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/17/eur_usdfib2_31.png)
USD/CHF
Despite the current correction, the forecast is still bullish. There is a possibility that Franc may reach the target area by the end of the week. The target for the bulls is at the level of 0.9640.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/10/usd_chffib1_29.png)
At the H1 chart, the pair is being corrected. During the next several hours, we can expect the price to reach the level of 38.2%. If the market rebounds from this level, the pair will start a new ascending movement towards predicted levels. Later, the target levels may become a starting point of a new correction.
RoboForex Analytical Department