Fibonacci Retracements Analysis 15.08.2013 (EUR/USD, USD/CHF)

15.08.2013

Analysis for August 15th, 2013

EUR/USD

Euro started a local correction. However, the bulls may try to start a new ascending movement before the price continues falling down. During a pullback, I opened a short-term buy order with Take Profit at the level of 61.8%.



At the H1 chart, we can see additional fibo-levels in the target area, 261.8% and 78.6%. I’ll move the stop on my buy order into the black as soon as the price breaks the maximum.



USD/CHF

Franc started a correction. Most likely, the pair will continue falling down a little bit during the next several days. Later, the price is expected to start a new ascending movement towards the main target at the levels of 50% and 138.2%.



As we can see at the H1 chart, the pair may complete this correction at the level of 38.2%, which is confirmed by two fibo-extensions. If later the price rebounds from these levels, the pair may start a new ascending movement.



 
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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