Fibonacci Retracements Analysis 27.05.2014 (EUR/USD, USD/CHF)


Analysis for May 27th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar is still being corrected close to the group of lower fibo levels at 1.3600 – 1.3590. Most likely, these targets will be reached in the nearest future. Later price may start new correction.

As we can see at H1 chart, price completed local correction between level of 78.6% and 61.8 inside temporary fibo-zone. Possibly, Euro may reach new minimum by Wednesday. We should note that if bears are strong enough to break the group of lower fibo levels, market may continue falling down very fast.

USD CHF, “US Dollar vs Swiss Franc”

Franc is also being corrected. In the near term, price may reach the group of upper fibo levels at 0.8980 – 0.8975. Future scenario depends on how instrument will move inside this target area.

As we can see at H1 chart, price reached temporary fibo-zone and correctional  level of 61.8%. Bulls are moving towards new maximum; they may reach it during the day. I’m planning to close my buy order with Take Profit.

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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.