Fibonacci Retracements Analysis 06.08.2013 (EUR/USD, USD/CHF)

06.08.2013

Analysis for August 6th, 2013

EUR/USD

Euro is still consolidating. The price couldn’t break the level of 78.6% again. The target for the next several days is in the area between the levels of 161.8% and 38.2%.



At the H1 chart, the temporary fibo-zones indicated the exact point of a reverse. A local correction reached the level of 61.8% and rebounded from it. The first target for the bears will be at the level of 100% (fibo-extension).



USD/CHF

Franc is testing the level of 78.6% again. If the bulls are able to rebound from this level, the pair will start a correction, at least, and then may break a local maximum.



At the H1 chart, the pair reached the level of 78.6%. Earlier, the temporary fibo-zones indicated the exact point where the previous descending movement was finished. The short-term target is the area between the levels of 38.2% and 100%.



 
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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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