Analysis for July 14th, 2014
EUR USD, “Euro vs US Dollar”
In case of Euro, sideways correction continues. Target for bulls 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 highs.
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. On Monday, pair tested small level of 78.6% (1.3640). If market rebounds from it, bears may reach new low during the day.
USD CHF, “US Dollar vs Swiss Franc”
Franc is also 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 in the nearest future.
After market opening, Franc tested correctional level of 61.8% (0.8895). Considering that pair entered temporary fibo-zone, market may rebound from current levels and start growing up.
RoboForex Analytical Department