Fibonacci Retracements Analysis 12.12.2013 (EUR/USD, USD/CHF)

12.12.2013

Analysis for December 12th, 2013

EUR/USD

Eurodollar continues moving upwards; stop on my buy order is already in the black. Most likely, market will reach new maximum during Thursday. Target for bulls is several fibo-levels in upper area, near level of 1.3850.



At H1 chart, price is being corrected. In the nearest future, pair may enter temporary fibo-zone and reach predicted target levels. If later price rebounds from them, pair may start new correction.



USD/CHF

Franc also may yet move downwards for a while. During local correction, I opened short-term sell order. In the future, price is expected to continue falling down towards lower fibo-levels at 0.8800.



At H1 chart, we can see one more fibo-level, 161.8%, inside target area. According to analysis of temporary fibo-zones, lower levels may be reached during the day. I’ll move stop into the black right after pair starts moving downwards.



 
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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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