Fibonacci Retracements Analysis 24.01.2014 (EUR/USD, USD/CHF)

24.01.2014

Analysis for January 24th, 2014

EUR/USD

Euro rebounded from correctional level of 61.8% and started moving upwards, that’s why during the next several weeks it better to buy than to sell. Most likely, in the nearest future price will break maximum. Main target is close to several upper fibo-levels, near 1.3970.



At H1 chart we can see, market is being corrected, but this correction is unlikely to be very deep. Most likely, during the day price will reach level of 23.6%. If pair rebounds from it, I’ll open one more buy order.



USD/CHF

Franc rebounded from level of 78.6%. Now bears are in charge and may break minimum quite soon. Target is in area formed by levels of 123.6% and 100%, close to 0.8710.



As we can see at H1 chart, market is being corrected. According to analysis of temporary fibo-zones, local level of 23.6% may be reached quite soon. If price rebounds from this level, bears will continue pushing pair downwards.



 
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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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