Fibonacci Retracements Analysis 11.12.2013 (EUR/USD, USD/CHF)

11.12.2013

Analysis for December 11th, 2013

EUR/USD

Eurodollar is still consolidating, but main trend remains bullish. Possibly, market may reach new maximum during the day. Main target for bulls is several fibo-levels in upper area, near level of 1.3850.



As we can see at H1 chart, price is being corrected. Probably, pair may reach upper levels inside closest temporary fibo-zone. If later price rebounds from them, pair may reverse, or at least, start new correction.



USD/CHF

Yesterday Franc reached new minimum and right now is being corrected. Most likely, price will reach target levels in nearest future. Expecting this to happen, I’m keeping my sell order.



At H1 chart, price is finishing local correction. Most likely, Franc may reach lower target levels inside temporary fibo-zone, which is very close.



 
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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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