Fibonacci Retracements Analysis 09.10.2013 (EUR/USD, USD/CHF)

09.10.2013

Analysis for October 9th, 2013

EUR/USD

After a long correction, the EUR/USD currency pair continued falling down. Earlier the price rebounded from the upper target levels. The main target for the next several days is at the level of 38.2%. The stop is already in the black.



At the H1 chart we can see, yesterday the price rebounded from the local correctional level of 61.8% twice and made a reverse inside one of the temporary fibo-zones. During the next several hours, the pair is expected to continue falling down.



USD/CHF

After rebounding twice from the lower levels, Franc started was able to a new ascending movement. The price has already broken a local maximum, thus allowing me to move the stop into the black. The target is at the level of 38.2%.



Yesterday the pair almost reached the level of 61.8%. The bulls continue pushing the price upwards and may reach their target level within the next several days.



 
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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