Analysis for October 11th, 2013
EUR/USD
Euro is being corrected. However, the pair may start a new descending movement quite soon, because the main target is still at the level of 38.2%. If the market breaks this level, the bears will continue pushing the price downwards.
![](https://roboforex.com/files/filemanager/image/forecasts/2013/october/11/eur_usdfib1.png)
At the H1 chart, the pair has reached the trend line and the current correction reached the level of 78.6%, if the price rebounds from these levels, the pair will start a new descending movement and break the latest minimum.
![](https://roboforex.com/files/filemanager/image/forecasts/2013/october/11/eur_usdfib2.png)
USD/CHF
After rebounding twice from the lower levels, Franc started a new ascending movement Franc. We can’t exclude a possibility that after completing a local correction, the price will start moving upwards and reach the level of 38.2%. If later the pair breaks it, the price will continue growing up.
![](https://roboforex.com/files/filemanager/image/forecasts/2013/october/11/usd_chffib1.png)
At the H1 chart, a local correction reached the level of 50%. If the market rebounds from it, the pair will start a new ascending movement and break the maximum, thus moving closer to the predicted targets.
RoboForex Analytical Department