Fibonacci Retracements Analysis 09.12.2013 (EUR/USD, USD/CHF)
09.12.2013
Analysis for December 9th, 2013
EUR/USD
Eurodollar is getting closer to predicted fibo-levels. If later price rebounds from them, pair may start new correction, at least. In addition to that, we can’t exclude a possibility that instrument may reverse and start new descending trend.
As we can see at H1 chart, price is getting close to temporary fibo-zone. Probably, pair may rebound from upper levels during Monday. Right now, I’m staying put of the market and planning to start selling only after instrument makes a reverse.
USD/CHF
Franc is moving close to several fibo-levels. Possibly, bulls may return to the market on Monday and try to rebound from them. If pair starts new ascending movement, I’ll consider opening long positions.
At H1 chart, market is very close to temporary fibo-zone. That is why, bulls are expected to start new ascending movement quite soon, may be during Monday.
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.