Fibonacci Retracements Analysis 14.06.2013 (EUR/USD, USD/CHF)

14.06.2013

Analysis for June 14th, 2013

EUR/USD

Euro is still moving near the level of 61.8%, but hasn’t been able to rebound form it yet. The current ascending movement faced the resistance from the 2.618 line of the fibo-channel. Most likely, in the nearest future the price will continue falling down towards the level of 50%, but I’ve already moved the stop into the black, just in case.



At the H1 chart we can see, that the market reached a new local maximum near the target area. In addition to that, there are several more fibo-levels near the level of 61.8%, which means that the price may rebound from them.



USD/CHF

Franc is moving above the level of 78.6% again; earlier the price rebounded from the 0.618 line of the fibo-channel. In the near term, the pair is expected to continue growing up towards the level of 61.8%. However, I’ve decided to avoid any risks and moved the stop into the black.



Temporary fibo-zones exactly showed us the area, where the price is going to stop falling down, or at least, start a new correction. We can’t exclude a possibility that the level of 61.8% may be reached during Friday. After Franc breaks this level, I’m planning to open several more buy 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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