Fibonacci Retracements Analysis 18.06.2014 (EUR/USD, USD/CHF)

18.06.2014

Analysis for June 18th, 2014

EUR USD, “Euro vs US Dollar” EURUSD remains to stay possibly in correctional phase. 1.3470-1.3460 Fibo-congestion is still relevant. Short position was opened.



At H1 structure, local level of 38.2% provided resistance. Before that market had tested this level twice. Not surprisingly, projected targets may be achieved as soon as today.

USD CHF, “US Dollar vs Swiss Franc”

USDCHF is trying to get back to bullish scenario that allowed to reduce risk for long position. Before that we have seen pullback from 50% retracement (0.8960). Upper Fibo congestion is considered to be target area (0.9100 – 0.9095).



At H1 chart it is probably correcting, but very soon breakout of highs can be initiated. According to timing Fibo-zones, upper targets can be reached until Thursday.


 

RoboForex Analytical Department
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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.

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