Fibonacci Retracements Analysis 08.04.2013 (EUR/USD, USD/CHF)

08.04.2013

Analysis for April 8th, 2013

EUR/USD

The EUR/USD currency pair is still being corrected. Most likely, in the nearest future the pair will continue moving towards the level of 38.2%. If the price rebounds from this level, the pair may make reverse.



At the H1 chart, the pair is moving inside a local up-trend. It looks like the price is going to continue growing up towards the level of 1.3100, where there are several fibo-levels at the same time. According to the analysis of temporary fibo-zones, the pair is expected to reach the target area by the end of the day.



USD/CHF

Franc is still moving downwards, just as we expected. The target of this descending correction is the level of 50%, where Take Profit on my sell order is placed. If the pair rebounds from this level, the price will start a new ascending movement.



At the H1 chart, we can see that there are several fibo-levels near the level of 0.9300. Temporary time zones indicate that the price may reach predicted target levels during the next several hours. However, this movement is a correction, so I decided not to open more orders.



 
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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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