Fibonacci Retracements Analysis 13.10.2014 (EUR/USD, USD/CHF)
13.10.2014
Analysis for October 13th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is trying to resume falling. The target is still the group of lower fibo-levels at 1.2435 – 1.2425. During a correction, I’ve opened a short-term buy order with the stop loss above the latest maximum.
As we can see at the H1 chart, the price has rebounded from a local retracement 50%. Temporary fibo‑zones indicate that the lower targets may be reached during the next 24 hours. Later, the pair may start a more serious correction.
USD CHF, “US Dollar vs Swiss Franc”
Franc is making another attempt to resume growing. The target is still the group of upper fibo-levels at 0.9780 – 0.9770. I’ve got a short-term buy order and plan to increase my position in the future.
As we can see at H1 chart, Franc has rebounded from a local retracement 50%. Temporary fibo-zones indicate that the pair may reach the upper targets by Tuesday. Later, the market may start a more serious correction.
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