Fibonacci Retracements Analysis 15.10.2014 (EUR/USD, USD/CHF)


Analysis for October 15th, 2014

EUR USD, “Euro vs US Dollar”

In case of Eurodollar, the trend is still bearish. The target is the group of lower fibo-levels at 1.2435 – 1.2425. I’ll move the stop loss to breakeven as soon as the price breaks the minimum.

As we can see at the H1 chart, the price has rebounded from a local retracement 23.6%. Temporary fibo‑zones indicate that the predicted targets may be reached by Thursday. Later, if the pair rebounds from them, the market may start a new correction.

USD CHF, “US Dollar vs Swiss Franc”

Franc is also trying to resume its movement inside the main trend. Earlier, the market rebounded from retracement 50% twice. The target is still the group of upper fibo-levels.

At H1 chart, the market has rebounded from a local retracement 50%. Temporary fibo-zones indicate that the pair may reach the predicted targets during the next 24 hours. Later, the price may start a more serious and deeper 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.