Fibonacci Retracements Analysis 06.10.2014 (EUR/USD, USD/CHF)
06.10.2014
Analysis for October 6th, 2014
EUR USD, “Euro vs US Dollar”
Last Friday, the take profit on my sell order worked. However, it seems like the downtrend hasn’t run dry yet, that’s why during a local correction I’ve opened a short-term sell order with the target at the closest group of lower fibo-levels at 1.2435 – 1.2425.
As we can see at H1 chart, the current correction may reach level of 23.6%. If the pair rebounds from this level, it may break the minimum and continue falling towards the targets, which are also confirmed by local fibo-levels.
USD CHF, “US Dollar vs Swiss Franc”
Last Friday, the take profit closed my buy order. Considering that the price may reach the group of upper fibo-levels during the next several hours, during a correction I’ve opened a short-term buy order with the tight stop.
At H1 chart, the target of the current correction is at level of 23.6%. The pair may rebound from this level during the day. After that, I’m planning to open another order. The predicted targets are also confirmed by local fibo-levels.
RoboForex Analytical Department
Attention!
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.