Fibonacci Retracements Analysis 04.07.2014 (EUR/USD, USD/CHF)

04.07.2014

Analysis for July 4th, 2014

EUR USD, “Euro vs US Dollar”

Euro continues moving downwards; during correction I opened another sell order. Target is the group of lower fibo-levels at 1.3465 – 1.3455. However, considering that price fell down quite deep, we can’t exclude the possibility that market may start more serious correction.



As we can see at H1 chart, lower targets are confirmed by local fibo-levels. According to analysis of temporary fibo-zones, predicted targets may be reached by the middle of the next week.




USD CHF, “US Dollar vs Swiss Franc”

Franc started growing up towards the group of upper fibo-levels at 0.9105 – 0.9095. Stop loss on my yesterday’s buy order is already in breakeven. In the future, if pair starts new correction, I’m planning to open my second buy order.



As we can see at H1 chart, there are several local fibo-levels inside upper target area. According to analysis of temporary fibo-zones, predicted targets may be reached by next Wednesday.



 
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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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