Analysis for June 25th, 2014
EUR USD, “Euro vs US Dollar”
EURUSD remains to stay possibly in correctional phase. Support was provided by 78.6% level (1.3635). As price is going to pull back from this level, new descending impulse can be initiated with possible target around Fibo leves congestion (1.3470 – 1.3465).
At H1 chart price has pulled back from 78.6% retracement right inside of the Fibo timing zone. I have now one short trade with stop above local high.
USD CHF, “US Dollar vs Swiss Franc”
USDCHF is trying to pull back from 78.6% (0.8924). Possibly, we can see continuation of ascending impulse with target around Fibo level congestion area (0.9100 – 0.9095).
At H1 chart recently we have seen pullback from 78.6%, right inside Fibo timing zone. I have now 2 short trades and as soon as market goes higher, I will set stop-loss to breakeven for those trades.RoboForex Analytical Department