Fibonacci Retracements Analysis 09.01.2014 (EUR/USD, USD/CHF)

09.01.2014

Analysis for January 9th, 2014

EUR/USD

Eurodollar started new correction; the first target for bulls is at level of 38.2%. If later price rebounds from it, market may start new descending movement and break minimum.



At H1 chart, pair rebounded from lower fibo-levels right inside temporary fibo-zone. I closed all my orders earlier and right now is out of the market. Later I’m planning to open several buy orders.



USD/CHF

Franc reached its target and rebounded from it. Main target of current correction is at level of 38.2%. If price breaks this level, market will start new and deeper descending movement.



At H1 chart we can see, that market from upper fibo-levels right inside temporary fibo-zone. Take Profits on my buy orders worked. During correction, I’ll try to find good opportunity to open several short-term sell orders.



 
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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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