Fibonacci Retracements Analysis 08.01.2015 (EUR/USD, USD/CHF)


Analysis for January 8th, 2015

EUR USD, “Euro vs US Dollar”

The market continues falling. The closest target is the group of lower fibo-levels at 1.1485. If later Eurodollar rebounds from this area, the pair may start a new correction.

At the H1 chart, the lower predicted targets are confirmed by local retracements. The price reaches new lows every day, thus allowing me to hold my sell orders.

USD CHF, “US Dollar vs Swiss Franc”

In case of Franc, the updated targets imply that the price may reach the group of fibo-levels at 1.0345. Possibly, bulls may reach a new high during the next several days.

At the H1 chart, the upper targets are confirmed by local retracements. As soon as the price renews the latest maximum, I’m planning to move stop losses closer to the current prices in case the pair starts a fast correction.

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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.