Fibonacci Retracements Analysis 25.07.2013 (EUR/USD, USD/CHF)

25.07.2013

Analysis for July 25th, 2013

EUR/USD

Euro is being corrected between the levels of 61.8% and 78.6%. We can’t exclude a possibility that  after a local correction, the pair may break the maximum and reach the level of 78.6%. If later the pair rebounds from this level, the price will start a new, deeper correction.



At the H1 chart we can see, that the price is moving inside a narrow trading range. The stop on my buy order is already in the black. According to the analysis of the temporary fibo-zones, the targets may be reached until the end of this week.



USD/CHF

Franc is still being corrected. The target is still at the level of 78.6%, where there are several more fibo-levels. I’ll move the stop into the black as soon as the market starts moving downwards.



At the H1 chart, the pair is consolidating. According to the analysis of the temporary fibo-zones, the level of 78.6% may be reached by Friday evening. Later this level may become a starting point of a new correction.



 
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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