Analysis for May 21st, 2013
EUR/USD
At the H4 chart, the price started a new correction, which may continue for several days. Later Euro us expected to start a new descending movement towards the target area, which is formed by three different fibo-levels and the line of 1.618 from fibo-channel.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/57/eur_usdfib1_36.png)
The price may complete a local correction at the level of 38.2%. If the pair rebounds from this level, Euro will continue falling down. According to the analysis of temporary fibo-zones, the correction may finish by Wednesday.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/17/eur_usdfib2_36.png)
USD/CHF
After rebounding from intermediate targets, Franc started a correction. The pair may consolidate for a while, but later the bulls are expected to start a new descending movement. The main target is still at the level of 0.9920.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/10/usd_chffib1_34.png)
The price may complete the current correction at the level of 38.2%. According to the analysis of temporary fibo-zones, the correction may complete within two days. If the pair rebounds from the level of 38.2%, Franc will resume the up-trend.
RoboForex Analytical Department