Fibonacci Retracements Analysis 22.07.2013 (EUR/USD, USD/CHF)
22.07.2013
Analysis for July 22nd, 2013
EUR/USD
Euro continues growing up; most likely, the pair will break the maximum during the day. The main target is at the level of 78.6%. In addition to that, the bulls may face the resistance from the 1.618 line of the fibo-channel.
At the H1 chart, we can see several more fibo-levels near the level 78.6%. According to the analysis of the temporary fibo-zones, the targets may be reached during the next couple of days. If the market rebounds from the level of 78.6%, the pair may start a correction.
USD/CHF
Franc is moving towards the minimum. If the bears are able to break the level of 61.8% and keep the price below it, the pair will continue falling down. The target for the next several days is at the level of 78.6%.
At the H1 chart, we can see that the target area is formed by three fibo-levels. According to the analysis of the temporary fibo-zones, the level of 78.6% may be reached by Tuesday.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.