Analysis for October 7th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. Possibly, the price may try to test level of 38.2%. If it rebounds from this retracement, the market may start a new descending movement towards the group of lower fibo-levels.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/33/eurusdfib1_2.png)
As we can see at H1 chart, temporary fibo-zones indicate that the price may soon reach the predicted targets at 1.2435 – 1.2425. I’ve got only one sell order right now; the stop loss on my yesterday’s order worked. I’m planning to increase my position as soon as the market resumes falling.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/24/eurusdfib2_1.png)
USD CHF, “US Dollar vs Swiss Franc”
In case of Franc, the current correction deepens as well. Most likely, in the nearest future the price may test level of 38.2%. I’ve placed a limit buy order a bit higher, with the stop loss below 61.8%. The target is still the group of upper fibo-levels.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/15/usdchffib1_1.png)
At H1 chart we can see that the price may reach a new local low during the next several hours. In addition to that, temporary fibo-zones indicate that the pair may reach the group of upper fibo-levels by Thursday. If the market rebounds from them, Franc may start a deeper correction.
RoboForex Analytical Department