Analysis for July 29th, 2013
EUR/USD
Euro is trying to rebounds from the level of 78.6%. If the bears are able to keep the price below it, Euro may start a new correction, at least. The stop on my sell order opened earlier is already in the black.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/57/eur_usdfib1_81.png)
At the H1 chart we can see, the bulls faced the resistance from several fibo-levels at the same time. Moreover, the temporary fibo-zones indicated the exact point of a reverse. The first target for the bears will be the level of 50% from the previous ascending movement.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/17/eur_usdfib2_80.png)
USD/CHF
Franc is trying to rebound from the level of 78.6%. During the previous correction, I opened a buy order. If later the price continues moving upwards, I’ll increase my long position.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/10/usd_chffib1_79.png)
At the H1 chart, the pair reached its target area formed by several fibo-levels. The temporary fibo-zones indicated the exact point where the pair reached its predicted targets. First, the bulls may reach the level of 61.8%. If they break it, the price will continue moving upwards.
RoboForex Analytical Department