Fibonacci Retracements Analysis 20.06.2013 (EUR/USD, USD/CHF)
20.06.2013
Analysis for June 20th, 2013
EUR/USD
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.
USD/CHF
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.
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