Fibonacci Retracements Analysis 26.08.2013 (EUR/USD, USD/CHF)

26.08.2013

Analysis for August 26th, 2013

EUR/USD

The pair is being corrected. Earlier Euro rebounded from the local correctional level of 61.8%. It looks like the bulls’ next target is in the area formed by the levels of 161.8%, 78.6%, and 50%.



At the H1 chart we can see, that the temporary fibo-zones indicated the exact moment, when the price rebounded from the level of 61.8%. I’ll move the stop on my order into the black as soon as the price breaks the latest maximum. Later, the upper target levels may become a starting point of a new, deeper correction.



USD/CHF

After rebounding from the correctional level of 50%, Franc is trying to start a new descending movement. During a local pullback, I opened a short-term sell order. The target for the bears is in the area formed by the levels of 138.2%, 161.8%, and 61.8%.



At the H1 chart, the pair rebounded from the level of 50% right inside the temporary fibo-zone. The next target for the bears is in the lower target area; the market may reach it in the second half of Tuesday.



 
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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