Fibonacci Retracements Analysis 14.10.2013 (EUR/USD, USD/CHF)

14.10.2013

Analysis for October 14th, 2013

EUR/USD

Euro is still consolidating. Earlier the price rebounded from the upper levels, but the ears are in no hurry to start a deep correction. The main target is still at the level of 38.2%.



At the H1 chart, the pair rebounded from the trend line again. The current correction reached the level of 78.6%. According to the analysis of the temporary fibo-zones, the predicted levels may be reached by Wednesday.



USD/CHF

After rebounding from the lower levels, Franc started a correction. The first target for the bulls is the level of 38.2%. If later the pair breaks it, the price will continue growing up towards the level of 50%, or even 61.8%.



At the H1 chart, the price is consolidating. We can’t exclude a possibility that Franc may break the maximum during the next 24 hours. According to the analysis of the temporary fibo-zones, the predicted levels may be reached within the next couple of 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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