Fibonacci Retracements Analysis 21.04.2014 (EUR/USD, USD/CHF)

21.04.2014

Analysis for April 21st, 2014

EUR USD, “Euro vs US Dollar”

After rebounding from local level of 61.8% (1.3860), Eurodollar started falling down. Earlier pair rebounded from the group of upper fibo levels (1.3900). Most likely, bears may break minimum in the nearest future.



As we can see at H1 chart, Eurodollar started new correction. I still got three sell orders with target near the group of lower fibo levels (1.3760). I’m planning to increase my short position as soon as market breaks level of 50% (1.3818) downwards again.




USD CHF, “US Dollar vs Swiss Franc”

After rebounding from level of 50% (0.8785), Franc started new ascending movement. Earlier price rebounded from the group of fibo levels at 0.8745. Last Friday, I opened another buy order, the third one.



As we can see at H1 chart, local correction reached level of 23.6% from previous fast ascending movement. Possibly, during the day bears may test level of 38.2%. In general, Franc is expected to start growing up towards the group of upper fibo levels (0.8845 – 0.8850).



 
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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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