Fibonacci Retracements Analysis 09.06.2014 (EUR/USD, USD/CHF)


Analysis for June 9th, 2014

EUR USD, “Euro vs US Dollar”

Euro is still being corrected. Earlier, price rebounded from the group of lower fibo-levels. Later pair is expected to test local minimum and then start new ascending movement towards level of 50% (1.3747).

At H1 chart, price is getting closer to temporary fibo-zone. Possibly, inside this zone pair may rebound from local level of 38.2% (1.3610) and start new ascending movement.

USD CHF, “US Dollar vs Swiss Franc”

After reaching the group of upper fibo-levels, market started new correction. Most likely, after local correction, pair may continue falling down towards level of 50% (0.8870). If later pair rebounds from it, bulls may try to reverse market upwards again.

As we can see at H1 chart, target of current local correction is at level of 38.2% (0.8956). Possibly, price may reach it inside temporary fibo-zone. If price rebounds from it, I’m planning to open another sell order, my second one.

RoboForex Analytical Department


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.