Fibonacci Retracements Analysis 28.05.2014 (EUR/USD, USD/CHF)

28.05.2014

Analysis for May 28th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar continues moving towards the group of lower fibo levels. Possibly, predicted targets may be reached during the day. If later price rebounds from them, market may start new correction, at least.



As we can see at H1 chart, yesterday price completed local correction between level of 78.6% and 61.8 inside temporary fibo-zone. Possibly, during the day Euro may reach the group of lower fibo levels inside temporary fibo-zone.




USD CHF, “US Dollar vs Swiss Franc”

Yesterday Take Profit on my buy order worked. Considering that Franc has already reached its main targets, market is expected to start new correction soon. This is why I opened short-term sell order with the tight stop loss.



As we can see at H1 chart, after rebounding from level of 61.8% yesterday, price reached its upper targets. Considering that right now price is moving inside temporary fibo-zone, market is expected to start falling down again during the day. After that, I’m planning to move stop into the black.



 
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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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