Fibonacci Retracements Analysis 14.03.2014 (EUR/USD, USD/CHF)

14.03.2014

Analysis for March 14th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar rebounded from several upper fibo-levels and started new correction. First target for bears is at level of 50%: if they break it, market will continue falling down. During correction, I opened sell order.



As we can see at H1 chart, price rebounded from target levels right inside temporary fibo-zone. Possibly, pair may break yesterday’s minimum until the end of today’s trading session. Instrument may reach level of 50% on Monday.




USD CHF, “US Dollar vs Swiss Franc”

After rebounding from several lower fibo-levels, Franc started local correction. I’ve got one short-term buy order with stop placed at minimum. Target is at level of 50%.



At H1 chart we can see, that bears reached their predicted targets right inside temporary fibo-zone. Most likely, pair will complete current local correction in the nearest future and bulls will start moving towards level of 50%. If later price breaks it, market will continue growing up.



 
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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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