Fibonacci Retracements Analysis 13.09.2013 (EUR/USD, USD/CHF)

13.09.2013

Analysis for September 13th, 2013

EUR/USD

The EUR/USD currency pair is still being corrected. Yesterday the price rebounded from the level of 61.8% once again, but couldn’t make a reverse. We can’t exclude a possibility that in the future the price may move upwards and reach the level of 78.6%.



At the H1 chart, the bears couldn’t continue pushing the price downwards inside the temporary fibo-zone and the pair started growing up again. We can see four fibo-levels inside the target area, that’s why there is a possibility that the price may rebound from it and start a new correction.



USD/CHF

In case of Franc, I’m keeping my sell order. There is a possibility that the current correction may continue up to the level of 78.6%. Otherwise, I’m planning to open a buy order if the price stays above the level of 23.6%.



As we can see at the H1 chart, the temporary fibo-zones indicated the exact point of a local reverse. The target area is formed by three fibo-levels and we can’t exclude a possibility that the area may become a starting point of a new, deeper ascending 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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