Analysis for February 26th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still consolidating; however, price was able to stay below one of intermediate levels, which means that it may continue growing up towards its main target at 1.3800. Later, after reaching this target area, pair may start new correction.
As we can see at H1 chart, price has almost reached stop on my buy order. Now there is temporary fibo-zone ahead of bulls. Possibly, they may reach their predicted targets right inside above-mentioned temporary fibo-zone.
USD CHF, “US Dollar vs Swiss Franc”
Franc is close to its local minimums; bears faced resistance from one of intermediate targets. If pair breaks it, market will continue falling down to reach its main target, which is near several lower fibo-levels at 0.8800.
At H1 chart, price is moving inside flat
pattern; bears are doing their best to prevent price from making current correction deeper. According to analysis of temporary fibo-zones, predicted targets may be reached by the end of this week.
RoboForex Analytical Department