Fibonacci Retracements Analysis 25.07.2014 (EUR/USD, USD/CHF)
25.07.2014
Analysis for July 25th, 2014
EUR USD, “Euro vs US Dollar”
Euro successfully reached the group of lower fibo-levels and may try to test this target area again during Friday. In the beginning of the next week, pair may test level of 38.2%. If it rebounds from this level, market will continue moving inside current downtrend.
At H1 chart, market is being corrected and I’m keeping one buy order. According to analysis of temporary fibo-zones, price may reach level of 38.2% in the beginning of the next week, may be on Tuesday.
USD CHF, “US Dollar vs Swiss Franc”
Franc also started new correction, that’s why I’m keeping only one order. In the near term, price may test local correctional level of 23.6%. If price rebounds from it. I’ll increase my long position with target at the group of upper fibo-levels.
In general, main target is still at the group of upper fibo-levels. According to analysis of temporary fibo-zones, predicted targets may be reached next Monday or Tuesday and then price may start more serious 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.