Fibonacci Retracements Analysis 06.09.2013 (EUR/USD, USD/CHF)

06.09.2013

Analysis for September 6th, 2013

EUR/USD

Yesterday the EUR/USD currency pair reached its target level and my Take Profit worked. However, the price isn’t in a hurry to make a reverse, so there is a possibility that it may continue falling down towards the next target area formed by the levels of 61.8% and 78.6%.



At the H1 chart we can see, that there is the level of 261.8% a bit below the target area. According to the analysis of the temporary fibo-zones, the predicted targets may be reached on Monday.



USD/CHF

Franc reached the level of 50% and then started a correction, during which I opened a short-term buy order with the tight stop. If the pair breaks this level, the price will continue growing up towards the level of 61.8%.



At the H1 chart we can see, that there are five fibo-levels in the target area. According to the analysis of the temporary fibo-zones, the bulls may reach the upper levels in the beginning of the next week. If later the pair rebounds from the level of 61.8%, the price may start a new 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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