Fibonacci Retracements Analysis 03.01.2014 (EUR/USD, USD/CHF)

03.01.2014

Analysis for January 3rd, 2014

EUR/USD

After reaching its target, Eurodollar started fast descending movement; stop on my sell order is already in the black. In the future, after completing local correction pair is expected to continue falling down towards closest group of fibo-levels.



Possibly, correction continues at H1 chart; target is at local level of 38.2%. If later price rebounds from it, pair may start new descending movement.



USD/CHF

Franc rebounded from lower fibo-levels and started fast ascending movement. Possibly, price may correct for a while in the nearest future, but later it is expected to continue growing up towards upper fibo-levels.



At H1 chart, price is forming short-term flat pattern; target of this correction is 38.2%, from which it may later rebound. According to analysis of temporary fibo-zones, upper levels may be reached in the beginning of the next week.



 
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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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