Fibonacci Retracements Analysis 08.11.2013 (EUR/USD, USD/CHF)
08.11.2013
Analysis for November 8th, 2013
EUR/USD
Euro reached its predicted targets and my Take Profit worked. In the near term, after fast decline, market may start correction. Target is at level of 38.2%.
As we can see at the H1 chart, there is one more fibo-level inside target area, 138.2% (correction). According to the analysis of the temporary fibo-zones, pair may reach its predicted levels during the day.
USD/CHF
Franc also reached bullish targets; my Take Profits worked. It looks like pair is starting correction. Probably, market may return to level of 50%.
At the H1 chart, bulls completed local up-trend inside one of temporary fibo-zones. During local correction, I opened short-term sell order. Main target level of 50% is confirmed by several local levels.
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