Analysis for July 12th, 2013
EUR/USD
The current correction is taking too much time. Most likely, the bears will reach a new local minimum and then the level of 50%. If the price rebounds from this level, I’ll open some buy orders with the target at the level of 78.6%.

According to the analysis of the temporary fibo-zones at the H1 chart, the price may reach the level of 50% during the day. The future scenario depends on how the pair will move at this level. If the bears are able to break it, the correction may continue.

USD/CHF
Franc is also being corrected; the target is at the level of 38.2%. If later the pair breaks this level, the market will continue growing up towards the level of 50%.

At the H1 chart, we can see a temporary target, which may complete the current correction. If the bears are able to rebound from the level of 38.2%, I’ll open some sell orders with the tight stop.
RoboForex Analytical Department