Analysis for September 25th, 2013
It looks like the EUR/USD currency pair is finishing its correction. I’m still keeping my buy order. The target is in the area formed by the levels of 78.6%, 138.2%, and 161.8%.
At the H1 chart we can see, the temporary fibo-zones indicate that the price may reach the predicted targets by the end of this week. I’ll move the stop into the black as soon as the pair breaks the maximum.
It looks like Franc is going to stop consolidating. Now the bears have to break the minimum and reach the target area. If later the price rebounds from the lower levels, the pair may start a deeper correction.
The pair has been consolidating for about a week. According to the temporary fibo-zones, the main targets may be reached on Friday. Most likely, I’ll increase my short position as the price continues moving downwards.
RoboForex Analytical Department