Fibonacci Retracements Analysis 01.07.2013 (EUR/USD, USD/CHF)

01.07.2013

Analysis for July 1st, 2013

EUR/USD

Euro is still moving downwards. The price slowed down at the level of 61.8%, but it looks like the bears are going to stop. Most likely, the pair will continue falling down towards the level of 78.6%, where there are several more fibo-levels.



At the H1 chart we can see, that the target area is confirmed by several more fibo-levels. According to the analysis of the temporary fibo-zones, the bears may reach their targets during the next several hours. If later the pair rebounds from the level of 78.6%, the market may start a correction.



USD/CHF

Franc is still consolidating, but may continue moving upwards a bit later. If the price breaks the level of 50%, the pair will continue growing up towards the level of 61.8%. The market may break the maximum during the day.



At the H1 chart we can see, that in the target area there are several more fibo-levels. According to the analysis of the temporary fibo-zones, the target levels may be reached quite soon. I’ll move the stop into the black as soon as possible.



 
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.

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