Fibonacci Retracements Analysis 19.06.2013 (EUR/USD, USD/CHF)
19.06.2013
Analysis for June 19th, 2013
EUR/USD
The bulls have been able to rebound from the level of 61.8%. Their next target is the level of 78.6%, where there are several more fibo-levels. During a correction, I opened one more buy order, just as I was planning.
The bulls have already gone halfway to the level of 78.6%. On Wednesday several important pieces of news are expected to be published, that’s why I moved the stops very close to the latest minimums. According to the analysis of the temporary fibo-zones, predicted targets may be reached by the end of this week.
USD/CHF
It looks like Franc is starting a new descending movement. The target area is at the level of 0.9050, where there are several more fibo-levels. The pair may break a local minimum during the next several days.
At the H1 chart we can see, that the pair is being corrected. The target area is formed by five fibo-levels. According to the analysis of the temporary fibo-zones, the bears may reach Take Profit by Thursday.
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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.