Fibonacci Retracements Analysis 27.10.2014 (EUR/USD, USD/CHF)


Analysis for October 27th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar is moving below retracement 38.2% (1.2688) quite steadily, which means that it may continue falling towards the group of lower fibo-levels at 1.2435 – 1.2425. In the future, after reaching these levels, the market may rebound from them and start a more serious correction.

The market has reached a local correctional retracement 38.2% and rebounded from it. Possibly, the price may try to break a local low during Monday. At the H1 chart, the predicted target area is confirmed by local retracements.

USD CHF, “US Dollar vs Swiss Franc”

After rebounding from retracement 78.6% and several less important levels, Franc is attempting to resume growing inside the main uptrend. The target for bulls is the group of upper fibo-levels.

During a local correction, I’ve opened an additional buy order. Last Friday evening, Franc rebounded from a local retracement 78.6%, which means that the pair may resume moving upwards. At the H1 chart, the upper targets are confirmed by several local retracements.

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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.