Fibonacci Retracements Analysis 25.11.2013 (EUR/USD, USD/CHF)

25.11.2013

Analysis for November 25th, 2013

EUR/USD

Eurodollar rebounded from local correctional level of 50% once again, which is strong signal for new descending movement. I’m still keeping my sell order with target in lower area, where there are several fibo-levels.



As we can see at H1 chart, pair rebounded from level of 50% right inside one of temporary fibo-zones. Local correction has passed level of 78.6%. Possibly, pair may break local minimum during the next several days.



USD/CHF

Franc did reach level of 50% and rebounded from it. In the future, I’m planning to open buy orders during local correction. Target is in upper area, where we can see several fibo-levels.



At H1 chart, we can see that pair rebounded from two levels, 50% and 78.6%, inside temporary fibo-zone. Later, price is expected to break local maximum, approximately this Wednesday.



 
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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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