Analysis for August 8th, 2013
EUR/USD
Euro continues moving upwards and is not going to make a reverse, which means that the bulls need to find new targets. In the area of 1.3670, we can see three fibo-levels, that’s why this area may be the next target for the buyers. However, the current ascending movement doesn’t look solid, so I’m planning to move the stop following the price.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/57/eur_usdfib1_89.png)
At the H1 chart we can see, that the price is moving near its local maximums. The closest target is the area between the levels of 1.3400-1.3420, where there are five fibo-levels. Later this area may become a starting point of a new correction.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/17/eur_usdfib2_88.png)
USD/CHF
Franc is also not going to make a reverse yet. During a correction, I opened a sell order. The targets are at the level of 0.8750. However, different surprises may occur, that’s why I’m planning to trail the stop.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/10/usd_chffib1_87.png)
At the H1 chart, the pair is being corrected; the intermediate target is at the level of 0.9130, which may be reached in the nearest future. Later this level may become a starting point of a new local correction, after which I’m planning to open several sell orders.
RoboForex Analytical Department