Analysis for June 17th, 2014
EUR USD, “Euro vs US Dollar”
EURUSD remains to stay possibly in correctional phase. 1.3470-1.3460 Fibo-congestion is still relevant. Recently short position was closed to breakeven and we have to search for a new entry point.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/42/eurh4_fibo17062014.png)
At H1 structure, local level of 38.2% is being tested. In case price pulls back from this level, it might be a signal for descending trend with further achievement of planned targets.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/44/eurh1_fibo17062014.png)
USD CHF, “US Dollar vs Swiss Franc”
USDCHF is also stays in correctional phase according to our models. It’s not excluded that sellers will push down price up to 50% retracement level. In case this level serves as a support, further growth to upper Fibo levels congestion (0.9100 – 0.9095) is possible.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/19/usdchfh4_fibo17062014.png)
At H1 chart upper targets are confirmed by some local levels (261,8% and 423,6% extensions), it makes this area stronger. If price will move higher, I will reduce risk for current position and place stop to breakeven.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/24/usdchfh1_fibo17062014.png)
RoboForex Analytical Department