Fibonacci Retracements Analysis 16.06.2014 (EUR/USD, USD/CHF)


EUR USD, "Euro vs US Dollar"

EURUSD is traded near recent low, It allowed to reduce risk and place stop loss to breakeven. It’s not completely excluded that in short-term perspective we will see price decline to nearest congestion of Fibonacci levels (1.3230 – 1.3220).

At H1 chart we see that local correctional level 38.2% had served as a resistance inside temporary Fibo-zone. In short-term perspective price can possibly test nearest congestion area of Fibonacci levels (1.3470 – 1.3460).

USD CHF, "US Dollar vs Swiss Franc"

At H4 chart we have seen pullback from 50% retracement, that allowed to reduce risk and place stop to breakeven point. Possible target is located around upper congestion of Fibonacci levels at 0,9100 – 0,9095 area.

At H1 chart, we have seen that 50% retracement acted as support. Upper Fibo-congestion is confirmed by some local levels, that makes this congestion more validated as possible target area.

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