Fibonacci Retracements Analysis 27.05.2013 (EUR/USD, USD/CHF)
27.05.2013
Analysis for May 27th, 2013
EUR/USD
Euro is still being corrected. In the beginning of the week, the price may grow up and reach the level of 61.8% from the previous descending movement. If the market rebounds from this level, the price will start a new descending movement towards the target area at the level of 1.2650.
At the H1 chart, a local correction is taking place. During Monday, the instrument may grow up a little bit. According to the analysis of the temporary fibo-zones, the pair may complete this correction by Wednesday.
USD/CHF
Franc started a correction, which may continue up to the 50% level from the previous ascending movement. If the bulls rebound from this level, the pair may start growing up towards the target at the level of 0.9900. I opened a buy order at a local maximum.
There is a possibility that the pair may complete this slight correction during the day and start a final descending movement. According to the analysis of the temporary fibo-zones, the level of 50% may be reached by the middle of the week.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.