Fibonacci Retracements Analysis 24.07.2013 (EUR/USD, USD/CHF)

24.07.2013

Analysis for July 24th, 2013

EUR/USD

Euro continues growing up; yesterday the pair reached a new maximum. It looks like the price may reach the level of 78.6% during the day. If later the pair rebounds from this level, the price will start, at least, a correction.



At the H1 chart we can see, that the price slowed down a little bit before making a final ascending movement. According to the analysis of the temporary fibo-zones, the predicted levels may be reached during the day. I placed a limit sell order near a local minimum.



USD/CHF

The market is trying to keep the price below the level of 61.8%. Most likely, in the nearest future Franc will break a local minimum. The main target is still at the level of 78.6%, which is right below several other fibo-levels.



At the H1 chart, the pair is being corrected, and I decided to open a sell order. Yesterday, while the price was moving upwards, my profitable stop worked. According to the analysis of the temporary fibo-zones, the target levels may be reached quite soon.



 
RoboForex Analytical Department

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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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