Fibonacci Retracements Analysis 19.11.2013 (EUR/USD, USD/CHF)

19.11.2013

Analysis for November 19th, 2013

EUR/USD

It looks like Eurodollar is finishing its correction; bulls have almost reached level of 50%. If market is able to keep price below 38.2%, pair will start new descending movement.



As we can see at H1 chart, one of the latest peaks was right inside one of temporary fibo-zones. Probably, in the nearest future price may reverse and start falling down. After formation of the second peak, I opened sell order, keeping pending one too.



USD/CHF

Franc rebounded from 38.2% twice. Possibly, price may start growing up again in the nearest future. Target is still in upper area, where there are several fibo-levels.



The second rebound from 38.2% took place inside one of temporary fibo-zones. Later pair is expected to start new ascending movement; I’m keeping my pending buy order.



 
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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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