Fibonacci Retracements Analysis 12.03.2014 (EUR/USD, USD/CHF)

12.03.2014

Analysis for March 12th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar is still being corrected. Earlier market rebounded from level of 61.8% and then started growing up. Most likely, bulls will each their target at level of 1.3970 in the nearest future.



Yesterday bulls rebounded from local level of 38.2%. It looks like price is going to start new ascending movement. According to analysis of temporary fibo-zones, upper target levels may be reached during the next 24 hours.




USD CHF, “US Dollar vs Swiss Franc”

Franc is still consolidating. Last week, pair rebounded from level of 38.2% and then bears reached new minimum. Main target is still close to several lower fibo levels at 0.8720.



At H1 chart we can see, local correction reached level of 38.2%. According to analysis of temporary fibo-zones, predicted targets may be reached on Wednesday. Later these levels may become starting point of new correction.



 
RoboForex Analytical Department

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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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