Fibonacci Retracements Analysis 10.10.2013 (EUR/USD, USD/CHF)
10.10.2013
Analysis for October 10th, 2013
EUR/USD
After rebounding from the upper target levels, the EUR/USD currency pair started falling down. The first target for the bears is at the level of 38.2%. The stop on my sell order is already in the black.
At the H1 chart, a local correction is taking place. If the price rebounds from the level of 38.2%, the pair will start a new descending movement. The market may break a local minimum during the next several hours.
USD/CHF
Franc rebounded from the lower target area. The price got very close to the intermediate target, which is at the level of 38.2%. If later the pair rebounds from it, the price may start a correction.
At the H1 chart, the bears started a short correction. We can’t exclude a possibility that the pair may test the level of 38.2% during the day. In the market rebounds from this level, the bulls will start a new ascending movement and break the maximum.
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.