Fibonacci Retracements Analysis 27.06.2013 (EUR/USD, USD/CHF)

27.06.2013

Analysis for June 27th, 2013

EUR/USD

Euro rebounded from the levels of 161.8% and 78.6%. We can’t exclude a possibility that right now the pair is starting a new correction, that’s why I opened a buy order during a local correction. The target area for the bulls may be the level of 38.2% from the previous descending movement.



At the H1 chart we can see, that the pair rebounded from the 2.168 line of the fibo-channel. In addition to that, the temporary fibo-zones also indicate that the current down-trend may have already been finished. Most likely, the pair will break a local maximum during the next several hours.



USD/CHF

Franc continues forming an ascending correction. The price is just several pips away from the target levels of 123.6% and 50%. If the pair rebounds from them, the market may make a reverse.



At the H1 chart we can see, that I moved the stops on my orders below the latest local minimum. According to the analysis of the temporary fibo-zones, the target levels may be reached very soon. After the price rebounds from them, I’m planning to open some sell 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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