Analysis for July 11th, 2014
EUR USD, “Euro vs US Dollar”
Euro is starting new descending movement. Target is still the group of lower fibo-levels at 1.3465 – 1.3455. I’ve got two sell orders with stop loss placed above weekly extremum.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/july/11/eur_usdfib1.png)
As we can see at H1 chart, price rebounded from local fibo-level of 61.8% (1.3650) inside temporary zone and started moving downwards. Right now, pair is trying to find support at level of 50% (1.3620). If market rebounds from it, bears may reach new low during Friday.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/july/11/eur_usdfib2.png)
USD CHF, “US Dollar vs Swiss Franc”
Franc is trying to complete current correction and start new ascending movement. Targets is still the group of upper fibo-levels at 0.9105 – 0.9095. I’m planning to increase my long position during the day.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/july/11/usd_chffib1.png)
As we can see at H1 chart, price rebounded from local level of 50% and temporary zone. Possibly, pair may break its maximums during the next several hours. In this case, I’ll move stop loss on my order a bit higher before the weekend.
RoboForex Analytical Department