Fibonacci Retracements Analysis 24.06.2013 (EUR/USD, USD/CHF)

24.06.2013

Analysis for June 24th, 2013

EUR/USD

Euro is still moving inside a strong descending trend. Most likely, the price will continue moving downwards after completing a local correction. The target area for the bears is between the levels of 61.8% and 50%.



At the H1 chart, one more target is the 2.618 line of the fibo-channel. According to the analysis of the temporary fibo-zones, predicted targets may be reached during the day. Later these levels may become a starting point of a new correction.



USD/CHF

Last Friday Franc reached a new local maximum. Despite the fact that the market formed a small gap at its opening, the pair started a correction. The target for the bulls is area between the levels of 123.6% and 50%.



At the H1 chart we can see, that there is one more fibo-level in the target area. According to the analysis of the temporary fibo-zones, the bulls may reach their targets during the next 24 hours. After that, the pair may start a new correction.



 
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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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