Analysis for July 16th, 2014
EUR USD, “Euro vs US Dollar”
Euro is falling down fast towards the group of lower fibo-levels at 1.3465 – 1.3455. Stop losses on my sell orders were moved to latest local minimum and are already in breakeven.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/july/16/eur_usdfib1.png)
As we can see at H1 chart, price reached new low. According to analysis of temporary fibo-zones, price may reach its targets by Friday. If later pair rebounds from lower levels, market may start new correction.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/july/16/eur_usdfib2.png)
USD CHF, “US Dollar vs Swiss Franc”
Franc successfully completed current correction and reached new high. Targets is still the group of upper fibo-levels at 0.9105 – 0.9095. Later I’m planning to increase my long position; stop loss on my current order is in breakeven.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/july/16/usd_chffib1.png)
Franc rebounded from level of 61.8% (0.8895) and started new ascending movement. According to analysis of temporary fibo-zones, upper targets may be reached until the end of this trading week. If later pair rebounds from predicted targets, market may start new correction.
RoboForex Analytical Department