Fibonacci Retracements Analysis 30.08.2013 (EUR/USD, USD/CHF)

30.08.2013

Analysis for August 30th, 2013

EUR/USD

The EUR/USD currency pair is falling down; the bears may continue pushing the price downwards in the future. The closest target is the correctional level of 38.2%, which is confirmed by two more fibo-levels.



At the H1 chart we can see, that in the target area there is one more confirming fibo level, 161.8% (extension). According to the analysis of the temporary fibo-zones, predicted targets may be reached during the next several hours. Later the price may rebound from several fibo-levels and start a new local correction.



USD/CHF

It looks like Franc is also not going to make a reverse downwards. We can’t exclude a possibility that the pair may continue growing up towards several fibo-levels at the top of the chart. During a local correction, I opened a short-term buy order. I’ll move the stop into the black as soon as the price breaks a local maximum.



At the H1 chart we can see, that the target area is formed by four fibo-levels. According to the analysis of the temporary fibo-zones, the target area may be reached on Monday.  We can’t exclude a possibility that the bulls may face the resistance from the target levels.



 
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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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