Analysis for October 30th, 2013
EUR/USD
The correction is becoming deeper; at the H4 chart, the market has already reached the level of 23.6%. This sideways movement may yet continue for a while, but later the pair is expected to start a new ascending movement towards the upper target levels.
![](https://roboforex.com/files/filemanager/image/forecasts/2013/october/30/eur_usdfib1.png)
At the H1 chart, the target reached one of the temporary targets, which means that the correction may finish. Right now, the price is trying to start a new ascending movement. During a short pullback, I opened a new buy order. There is a possibility that the pair may break the maximum before the end of the week.
![](https://roboforex.com/files/filemanager/image/forecasts/2013/october/30/eur_usdfib2.png)
USD/CHF
Franc also started a deeper correction; the market has already reached the level of 38.2%. If the pair rebounds from this level, the price will start a new descending movement. However, I’m staying out of the market right now and have only a pending order.
![](https://roboforex.com/files/filemanager/image/forecasts/2013/october/30/usd_chffib1.png)
At the H1 chart, Franc rebounded from the level of 38.2% inside one of the temporary fibo-zones. We may assume that right now the price is making a reverse downwards. The main target is still at the level of 78.6% (extension).
RoboForex Analytical Department