Analysis for October 3rd, 2013
It looks like the EUR/USD currency pair isn’t going to make a reverse. We can’t exclude a possibility that the price may continue growing up towards the target area. If the price rebounds from the upper levels, the market may start a deep correction.
At the H1 chart we can see, the temporary fibo-zones indicated the exact point of a local reverse. During a local correction, I opened a short-term buy order. There is a possibility that the pair may test the target area on Thursday.
Franc is again moving close to the predicted levels. If later the price rebounds from the level of 78.6%, the bulls will start a correction. However, if the price breaks it, the bears will continue pushing the pair downwards.
At the H1 chart, the price is getting closer to the temporary fibo-zone, where it may later make a reverse. Right now, I’m staying out of the market, but I’m planning to open buy orders after the price rebounds from the lower levels.
RoboForex Analytical Department