Fibonacci Retracements Analysis 17.02.2014 (EUR/USD, USD/CHF)

17.02.2014

Analysis for February 17th, 2014

EUR USD, “Euro vs US Dollar”

Euro continues moving upwards. Main target is still the same, close to upper fibo-levels near 1.3800. Later, pair is expected to start continues growing up and reach new maximums.



As we can see at H1 chart, market is being corrected, but may start new ascending movement in the nearest future. According to the analysis of temporary fibo-zones, bulls may reach their main target by Tuesday.




USD CHF, “US Dollar vs Swiss Franc”

Franc reached one of intermediate fibo-levels and started local correction. Most likely, this correction will finish during the day. I’m planning to increase my short position after price starts falling down again.



As we can see at H1 chart, current correction may be quite short. Pair may reach new minimum during the day. Main target for bears is close to several fibo-levels near 0.8800.



 
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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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