Fibonacci Retracements Analysis 08.11.2013 (EUR/USD, USD/CHF)

08.11.2013

Analysis for November 8th, 2013

EUR/USD

Euro reached its predicted targets and my Take Profit worked. In the near term, after fast decline, market may start correction. Target is at level of 38.2%.



As we can see at the H1 chart, there is one more fibo-level inside target area, 138.2% (correction). According to the analysis of the temporary fibo-zones, pair may reach its predicted levels during the day.



USD/CHF

Franc also reached bullish targets; my Take Profits worked. It looks like pair is starting correction. Probably, market may return to level of 50%.



At the H1 chart, bulls completed local up-trend inside one of temporary fibo-zones. During local correction, I opened short-term sell order. Main target level of 50% is confirmed by several local levels.



 
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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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