Fibonacci Retracements Analysis 28.02.2014 (EUR/USD, USD/CHF)

28.02.2014

Analysis for February 28th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar rebounded from local level of 38.2% and started moving upwards. During correction, I opened another buy order. Target is still near several upper fibo-levels at 1.3800.



According to analysis of temporary fibo-zones at H1 chart, upper levels may be reached in the beginning of the next week. Possibly, after reaching them, price may start new and more serious correction.




USD CHF, “US Dollar vs Swiss Franc”

Just as we expected, Franc rebounded from local level of 38.2% and upper border of descending channel. During correction, I opened one more sell order. Lower levels may be reached in the nearest future.



At H1 chart we can see, that price made a reverse right inside temporary fibo-zone. Possibly, pair may start reach new minimum on Friday. In this case, I’ll move stops into the black.



 
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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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