Fibonacci Retracements Analysis 28.08.2013 (EUR/USD, USD/CHF)

28.08.2013

Analysis for August 28th, 2013

EUR/USD

Euro is still being corrected. Later the pair may start a new ascending movement and break the latest maximums. The target for the bulls 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 made a local reverse. Earlier the pair rebounded from the level of 61.8%. During a local correction, I opened my second buy order.



USD/CHF

Franc is very close to a local minimum. During a correction, I opened my second sell order. In the future, the pair is expected to start a new descending movement towards the target area formed by the levels of 138.2%, 161.8%, and 61.8%.



The temporary fibo-zones indicated the exact moment when the price made a local reverse. I’ll move the stop closer to the latest maximum as soon as the price breaks the minimum. Later the target area may become a starting point of a deeper correction.



 
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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