Fibonacci Retracements Analysis 01.05.2013 (EUR/USD, USD/CHF)

01.05.2013

Analysis for May 1st, 2013

EUR/USD

The market turned upside down. Euro started moving upwards and continued the correction. The target is at the level of 61.8%, where there are two more fibo-levels, which make this area even more important.



At the H1 chart we can see, that the market is being corrected. Later we can expect the pair to start a new ascending movement towards the target area. According to the analysis of temporary fibo-zones, predicted levels may be reached by Thursday.



USD/CHF

Franc started falling down. However, it is still being corrected, the target is at the level of 78.6%, where there are two more fibo-levels. The price may start a new descending movement during the day.



After reaching the level of 50%, the pair started a correction. If the bears are able to break this level, the price will start a new descending movement. According to the analysis of temporary fibo-zones, the targets may be reached by the end of the week.



 
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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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