Analysis for July 21st, 2014
EUR USD, “Euro vs US Dollar”
After unsuccessful attempt to reach the group of lower fibo-levels at 1.3465 – 1.3455, Euro started correction. Possibly, price may form
flat pattern during the next several days. In the future, bears may return to the market and reach their predicted targets.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/july/21/eur_usdfib1.png)
As we can see at H1 chart, main lower target is confirmed by local fibo-levels. According to analysis of updated temporary fibo-zones, lower levels may be reached by Tuesday. However, if price continues consolidating, then current correction may complete inside this temporary fibo-zone.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/july/21/eur_usdfib2.png)
USD CHF, “US Dollar vs Swiss Franc”
During local correction last week, I opened another buy order. Targets are still the group of upper fibo-levels at 0.9105 – 0.9095. Stop loss on my current orders is almost in breakeven; later I’m planning to increase my long position.
![](https://roboforex.com/files/filemanager/image/forecasts/2014/july/21/usd_chffib1.png)
As we can see at H1 chart, 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 by the middle of the week. If later pair rebounds from predicted targets, market may start new and more serious correction.
RoboForex Analytical Department