Analysis for July 22nd, 2014
EUR USD, “Euro vs US Dollar”
Euro is slowly getting closer to the group of lower fibo-levels at 1.3465 – 1.3455. It looks like price is going to reach its targets in the nearest future. If pair rebounds from them, Euro may start new and more serious correction.
As we can see at H1 chart, main lowers target are confirmed by local fibo-levels. Possibly, price may rebound from them inside this temporary fibo-zone. In this case, market may start more serious correction.
USD CHF, “US Dollar vs Swiss Franc”
Franc continues growing up and reaching new maximums. Targets are still the group of upper fibo-levels at 0.9105 – 0.9095. Stop loss on my current orders is already with a little profit; later I’m planning to increase my long position.
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