Fibonacci Retracements Analysis 24.06.2014 (EUR/USD, USD/CHF)

24.06.2014

Analysis for June 24th, 2014

EUR USD, “Euro vs US Dollar”

EURUSD is possibly continuing to move in correctional phase. Fibo level 78.6% is considered to be a support. If price can pull back from this level, new descending wave can be initiated to lower Fibo levels congestion (1.3470 – 1.3465)



At H1 chart price comes closer to timing Fibo-zone. It’s not excluded that pull back from 78.6% level will be formed inside of this zone. Again I have short trade with stop loss above recent high.



USD CHF, “US Dollar vs Swiss Franc”

USDCHF is also traded on the local Fibo level 78.6% (0.8924). If today price reverses from this level, buyers can be in control again. Target is located near Fibo levels congestion (0.9100 – 0.9095).



At H1 chart price is traded near timing Fibo zone. If inside of this zone price pulls back from 78.6%, I will add to my longs. Probably, market can set a new high as the day develops.
 



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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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