Fibonacci Retracements Analysis 23.12.2014 (EUR/USD, USD/CHF)


Analysis for December 23rd, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar continues falling towards its lower targets. Earlier the price reached the group of upper fibo-levels, rebounded from them, and resumed moving downwards. The stop loss on my sell orders is already in the black.

At the H1 chart, the lower target area is confirmed by local retracements. Possibly, the pair may rebound from it in the nearest future and start a new and much deeper correction.

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 buy order is already in breakeven. In the near term, the market is expected to continue growing towards its upper targets.

At the H1 chart, I’m planning to open another buy order after a local correction. The closest group of fibo-levels is at 0.99400. Possibly, the market may reach this target area during the next several days.

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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.