Fibonacci Retracements Analysis 03.07.2014 (EUR/USD, USD/CHF)
03.07.2014
Analysis for July 3rd, 2014
EUR USD, “Euro vs US Dollar”
Euro broke the group of upper fibo‑levels upwards and made me close my buy order and open sell one. I closed my yesterday’s buy order with almost no profit. In the near term, price may fall down towards its local targets near level of 61.8% (1.3615). If pair breaks this target area, market will fall down much deeper.
As we can see at H1 chart, pair is trying to rebound from local level of 38.2% inside one of temporary fibo-zones. Probably, price may break local low during the day.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving above the group of lower fibo-levels, which means that it may start new correction, at least. Short-term target is at level of 61.8% (0.8930 ‑ 0.8925).
At H1 chart, local correction reached level of 23.6%. Right now, price is moving inside temporary fibo-zone, which means that it may reverse upwards and continue growing up. I’m staying out of the market, but may open buy orders during correction in the future.
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