Fibonacci Retracements Analysis 27.08.2013 (EUR/USD, USD/CHF)

27.08.2013

Analysis for August 27th, 2013

EUR/USD

Euro is still being corrected; the pair may start a new ascending movement at any moment. Later, the price is expected to break the latest maximums and reach the target area, formed by the levels of 161.8%, 78.6%, and 50%.



At the H1 chart we can see, that after rebounding from the local correctional level, the market started moving upwards again. According to the analysis of the temporary fibo-zones, the pair may start a new ascending movement during the next several hours.



USD/CHF

Franc is also being corrected. Earlier the price rebounded from the correctional level of 50%. It looks like the bears are going to break a local minimum and reach the target area formed by the levels of 138.2%, 161.8%, and 61.8%.



According to the analysis of the temporary fibo-zones, the price may complete the current consolidation quite soon and start a new descending movement. We can’t exclude a possibility that the pair may break a local minimum during the day.



 
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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