Fibonacci Retracements Analysis 10.01.2014 (EUR/USD, USD/CHF)

10.01.2014

Analysis for January 10th, 2014

EUR/USD

Eurodollar rebounded from the group of lower fibo-levels. During local correction, I opened short-term buy order. Closest target is at level of 38.2%, where I placed Take Profit.



At H1 chart, pair rebounded from predicted targets right inside temporary fibo-zone. Market may correct for a while during Friday, but later it is expected to start new ascending movement. Pair may reach level of 38.2% in the beginning of the next week.



USD/CHF

Franc reached its main target and rebounded from it. During correction, I opened sell order with target at level of 38.2%. I’ll move stop into the black right after price reaches new minimum.



At H1 chart we can see, that market reversed downwards right inside temporary fibo-zone. Closest target is about 100 of pips away, so it may take the market several days to reach level of 38.2%. If price rebounds from it, pair may start new ascending movement.



 
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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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