Fibonacci Retracements Analysis 23.06.2014 (EUR/USD, USD/CHF)

23.06.2014

Analysis for June 23th, 2014

EUR USD, “Euro vs US Dollar”

EURUSD chart forces us to look at previous bearish prices. I’ve opened short position on local correction with stop on today’s high. Target is considered to be at Fibo congestion at 1.3470 – 1.3465 area.



At H1 chart lower targets are confirmed by some local Fibo-levels. As timing zones indicate, those targets can be achieved until Tuesday. In case we see a pullback, more wide correction can follow.



USD CHF, “US Dollar vs Swiss Franc”

USDCHF makes bullish targets relevant. Buying trade was opened with market prices, stop was placed below recent lows. Target is considered to be at previous congestion of Fibo-levels (0.9100 – 0.9095)



At H1 chart upper targets are supported by local Fibo-levels. According to timing Fibo-zones, bullish target can be achieved until middle of the week. Further expectations will depend on behavior of this currency pair near those levels.




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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