Fibonacci Retracements Analysis 06.06.2014 (EUR/USD, USD/CHF)


Analysis for June 6th, 2014

EUR USD, “Euro vs US Dollar”

Yesterday Euro reached the group of lower fibo-levels and rebounded from the, most likely, right now price is being corrected and this correction may continue up to level of 38.2% (1.3690) from the previous descending movement.

During local correction, I opened short-term buy order with tight stop. According to analysis of temporary fibo-zones, price may reach its closest target level of 38.2% during the day. If price breaks it, it may start more significant ascending movement.

USD CHF, “US Dollar vs Swiss Franc”

Franc was just several pips shy to reach the group of upper fibo-levels; market started new correction. After a short pause, pair may continue falling down towards level of 50% (0.8870).

During pullback, I opened sell order with stop placed near local maximums. According to analysis of temporary fibo-zones, price may reach level of 50% during the next 24 hours.

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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.