Fibonacci Retracements Analysis 22.01.2014 (EUR/USD, USD/CHF)

22.01.2014

Analysis for January 22nd, 2014

EUR/USD

Possibly, Euro is about to complete current correction. Main target for bears is still in lower area close to 1.3490, where there are several fibo-levels. Probably, price may break local minimum during the next several hours.



At H1 chart we can see, that market reached correctional level of 50% and rebounded from it, just as we expected. According to analysis of temporary fibo-zones, predicted targets may be reached by Thursday.



USD/CHF

Franc is also still being corrected, but may yet move upwards a little bit. In the near term, price is expected to start new ascending movement towards upper fibo-levels. Target for bulls is at level of 0.9180.



As we can see at H1 chart, market has been consolidating for several days. According to analysis of temporary fibo-zones, bulls may reach upper levels until the end of this week. If later pair rebounds from them, market may start new and deeper correction.



 
RoboForex Analytical Department

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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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