Fibonacci Retracements Analysis 18.11.2013 (EUR/USD, USD/CHF)

18.11.2013

Analysis for November 18th, 2013

EUR/USD

Eurodollar is still being corrected; price has already reached local correctional level of 38.2% and right now is trying to rebound from it. I’m waiting for bears to return and keeping my pending sell order, which is placed a bit lower that local minimum.



As we can see at H1 chart, pair is reaching one of temporary fibo-zones, which means that it may reverse during the day. Target for bears is still lower area, where there are several fibo-levels.



USD/CHF

Franc is moving inside flat pattern. Possibly, pair may reach 38.2% during the day. If later price rebounds from it, bulls will take control over the market.



At H1 chart we can see, that Franc is getting g closer to one of temporary fibo-zones. During the next several hours, pair may break local minimum. If market break 38.2%, pair will continue current correction.



 
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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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