Fibonacci Retracements Analysis 30.07.2013 (EUR/USD, USD/CHF)

30.07.2013

Analysis for July 30th, 2013

EUR/USD

Euro broke the level of 78.6%. The stops on my sell orders opened earlier are already in the black. Most likely, this week the pair will start a serious descending correction (at least).



The bears have already reached the level of 38.2% from the previous ascending movement. There is a possibility that the price may continue falling down towards the level of 61.8%. If the bears break this level, the pair will continue moving downwards.



USD/CHF

Franc is trying to rebound from the level of 78.6%. Most likely, after completing a local correction, the pair will continue moving upwards. We can’t exclude a possibility that the buyers may reach the level of 61.8% within the next several days.



At the H1 chart, we can see that the temporary fibo-zones indicated the exact moment when the price reaches the target levels. The current ascending movement has already reached the level of 38.2% (fibo-correction) and may continue growing up towards the level of 61.8%.



 
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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