Fibonacci Retracements Analysis 10.07.2013 (EUR/USD, USD/CHF)
10.07.2013
Analysis for July 10th, 2013
EUR/USD
Yesterday the pair broke its local minimum. The target for the bears is in the area between two fibo-levels, 78.6% and 100%. During a correction, I opened one more sell order. The price may start a new ascending movement during the day.
At the H1 chart we can see, that the correction finished at the level of 38.2% after the price rebounded from it. According to the analysis of the temporary fibo-zones, the target levels may be reached by the end of this week.
USD/CHF
Franc continues moving upwards, so I’ve moved the stop on my short-term buy order into the black. Currently the market is being corrected. However, later the pair may start a new ascending movement towards the target area.
At the H1 chart, the intermediate target is still in the area between two levels of 423.6%. According to the analysis of the temporary fibo-zones, the area may be reached by Thursday.
RoboForex Analytical Department
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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.