Fibonacci Retracements Analysis 13.06.2013 (EUR/USD, USD/CHF)

13.06.2013

Analysis for June 13th, 2013

EUR/USD

Euro reached the level of 61.8%, but wasn’t able to start a new ascending movement. Judging by the latest candlesticks, the bears are trying to make a reverse, which is also confirmed by resistance of 2.618 line of the fibo-channel. If the bears are able to keep the price below the 61.8% level, it will be the first sign of a new descending movement.



At the H1 chart, the market reached predicted targets. In addition to that, the price is trying to rebound from the 6.854 line of the fibo-channel. I’ll move the stop on my sell order into the black as soon as possible.



USD/CHF

Yesterday Franc broke the level of 78.6%, continued falling down, but was stopped by the 0.618 line of the fibo-channel. If the pair breaks the level of 78.6% upwards, the bulls will start a new ascending trend, at least a local one.



At the H1 chart, the price is returning to the level of 78.6%. In addition to that, Franc reached the targets levels, which is a good signal for a new ascending movement. I opened my first long positions with the tight stop.



 
RoboForex Analytical Department

Attention!

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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question