Fibonacci Retracements Analysis 11.11.2014 (EUR/USD, USD/CHF)


Analysis for November 11th, 2014

EUR USD, “Euro vs US Dollar”

The correction continues. The first target level is a local retracement 38.2%. If the price rebounds from it and from the upper border of its descending channel again, the market may resume falling towards the group of lower fibo-levels.

At the H1 chart, possibly the pair may start forming flat in the nearest future. Later, after the price rebounds from a possible target of this correction, I’m planning to open an additional sell order. I’m planning to record the profit when the market rebounds from the lower targets.

USD CHF, “US Dollar vs Swiss Franc”

Franc is also forming a correction, the target of which is at retracement 50%. If later the price rebounds from this level, the market will continue moving inside the main uptrend towards the upper targets.

Probably, at the H1 chart the current correction may later continue. Local retracements confirm that this correction may finish at retracement 50%. After the pair rebounds from it, I’m planning to open an additional buy order.

RoboForex Analytical Department


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.