Analysis for May 19th, 2014
EUR USD, “Euro vs US Dollar”
After reaching its lower targets, Euro started correction. Closest target is at local level of 38.2% (1.3780), where I placed limit sell order. If later price rebounds from it, pair may start new descending movement.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/May/19/eur_usdfib1.png)
As we can see at H1 chart, market is still consolidating. According to analysis of temporary fibo-zones, price may reach level of 38.2% during the day. We should note, that if bulls are able to break this correctional level, pullback upwards may be more significant.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/May/19/eur_usdfib2.png)
USD CHF, “US Dollar vs Swiss Franc”
Franc is also reversing. Most likely, during the next several days descending correction will continue; its target is at level of 38.2% (0.8860). I opened sell order with target placed at above-mentioned level.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/May/19/usd_chffib1.png)
At H1 chart, price reached its upper targets and started new correction. According to analysis of temporary fibo-zones, level of 38.2% may be reached during Monday. If later pair rebounds from this level, market will start new ascending movement.
RoboForex Analytical Department