Fibonacci Retracements Analysis 17.12.2014 (EUR/USD, USD/CHF)


Analysis for December 17th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar has reached the group of local retracement, rebounded from them, and resumed falling. I’ve already moved the stop loss on my yesterday’s sell order to the level where the order was opened. In the future, I’m planning to increase my short position.

At the H1 chart, the upper target area was confirmed by several local retracements. The main target is still the group of lower fibo-levels: falling towards them may become the trend of this week.

USD CHF, “US Dollar vs Swiss Franc”

Franc has rebounded from retracement 61.8%, which was confirmed by local retracement.  The stop loss on my yesterday’s buy order is already in breakeven. In the near term, the market is expected to continue growing.

At the H1 chart, I’m planning to open another buy order after a local correction. The closest group of fibo-levels is at 0.9680. Possibly, the market may reach this target area until the end of the week.

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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.