Fibonacci Retracements Analysis 17.12.2013 (EUR/USD, USD/CHF)
17.12.2013
Analysis for December 17th, 2013
EUR/USD
Eurodollar is still being corrected. This coaction may yet continue for a while; target is at local level of 38.2%. If later price rebounds from it, pair is expected to start growing up again towards upper fibo-levels.
At H1 chart, despite short-term growth, pair may test previous minimums. One of the most important temporary targets may be reached on Wednesday. Possibly, price will test lower target levels tomorrow.
USD/CHF
Franc is moving close to its local minimums. However, price may yet continue current correction. Closest target for bulls is at level of 38.2%, from which later pair may rebound.
At H1 chart we can see, that upper target area is formed by three fibo-levels. According to analysis of temporary fibo-zones, predicted targets may be reached on Wednesday. If pair rebounds from 38.2%, I’ll start selling.
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