Analysis for June 20th, 2013
Yesterday Euro started moving downwards very fast. The bears are very strong and may continue pushing the price downwards. The target is the area between the levels of 50% and 61.7%. I’m planning to open a limit sell order.
At the H1 chart, we can see the 2.618 line of the fibo-channel, which makes the target area even more important. According to the analysis of the temporary fibo-zones, predicted targets may be reached by Friday or next Monday.
Franc started growing up again. The closest target for the bulls is the level of 50% from the previous descending movement. However, in my opinion, the pair may be corrected for a while before continuing its ascending movement.
At the H1 chart we can see, that there is one more fibo-level, 2.618, above the target area. According to the analysis of the temporary fibo-zones, predicted targets may be reached by the end of this week or in the beginning of the next one.
RoboForex Analytical Department