Analysis for October 14th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is trying to resume falling. Yesterday the price rebounded from local retracement 50% again. In the near term, the pair is expected to continue falling towards the group of lower fibo-levels at 1.2435 – 1.2425.
At the H1 chart, the lower targets are confirmed by local retracements. Temporary fibo‑zones indicate that the predicted targets may be reached during the next 24 hours. Later, the pair may start a new correction.
USD CHF, “US Dollar vs Swiss Franc”
Franc has rebounded from retracement 50% twice. It looks like the pair is starting a new ascending movement towards the group of upper fibo-levels. I’m holding my buy order and planning to increase my long position in the future.
At H1 chart, temporary fibo-zones indicate that the pair may reach the upper targets by Wednesday. If later the market rebounds from them, the price may start quite a deep correction.
RoboForex Analytical Department