Fibonacci Retracements Analysis 20.02.2014 (EUR/USD, USD/CHF)

20.02.2014

Analysis for February 20th, 2014

EUR USD, “Euro vs US Dollar”

Euro started new correction. Possibly, price may rebound from level of 78.6%. In this case, target will be again several upper fibo-levels near 1.3800.



As we can see at H1 chart, current correction reached 38.2% level. Considering that market is moving inside temporary fibo-zone, price may rebound from above-mentioned level. I’ll increase my long position after price breaks level of 23.6%.




USD CHF, “US Dollar vs Swiss Franc”

Franc is also being corrected; earlier price wasn’t able to break one of intermediate levels. Stop on my orders is placed at local maximum. In the near term, instrument is expected to start falling down towards level of 0.8800.



As we can see at H1 chart, bulls reached level of 61.8%. Considering that pair is moving inside temporary fibo-zone, price may rebound from this level. I’ll move stops to latest local maximum right after market starts moving downwards.



 
RoboForex Analytical Department

Attention!

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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question