Fibonacci Retracements Analysis 13.06.2014 (EUR/USD, USD/CHF)


Analysis for June 13th, 2014

EUR USD, “Euro vs US Dollar”

Euro is still moving close to its minimums. Possibly, during the next several days market will continue falling down towards the group of strong fibo-levels at 1.3230 ‑ 1.3220. Yesterday stop on my sell order worked and I opened another one.

As we can see at H1 chart, price reached local level correctional of 38.2%. Considering that market is moving inside temporary fibo-zone, price may start falling down again towards the closest group of fibo-levels at 1.3470 ‑ 1.3460.

USD CHF, “US Dollar vs Swiss Franc”

Franc is moving at local level of 50%: if Franc rebounds from it, bulls will return to the market. Closest target here is the group of upper fibo-levels at 0.9100 ‑ 0.9095.

As we can see at H1 chart, price is getting closer to temporary fibo-zone, which increases a possibility that it may rebound from level of 50%. In addition, upper targets are confirmed by several local fibo-levels, which makes them even more important.

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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.