Analysis for May 20th, 2013
EUR/USD
After reaching intermediate targets, Euro started a new correction. However, the price may continue falling down quite soon. The target for the bears is the area formed by three different fibo-levels, and the line of 1.618 from fibo-channel, which was formed based on the previous ascending movement.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/57/eur_usdfib1_35.png)
At the H1 chart we can see, that there are five fibo-levels in the target area, which make it even more important. According to the analysis of temporary fibo-zones, the price may reach the level of 1.2650 by Wednesday. If later the pair rebounds from this level, the market may start a more serious correction.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/17/eur_usdfib2_35.png)
USD/CHF
Franc is also being corrected. However, the bulls are likely to start a new ascending movement quite soon. I haven’t opened new orders yet, but plan to increase my positions as soon as the price breaks the maximum. The target area at the level of 0.9920.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/10/usd_chffib1_33.png)
At the H1 chart we can see, that the target area is formed by four fibo-levels. As soon as the price completes a local correction, the pair may form one more backward correction. According to the analysis of temporary fibo-zones, the upper predicted levels may be reached by Wednesday of Thursday.
RoboForex Analytical Department