Fibonacci Retracements Analysis 17.12.2013 (EUR/USD, USD/CHF)

17.12.2013

Analysis for December 17th, 2013

EUR/USD

Eurodollar is still being corrected. This coaction may yet continue for a while; target is at local level of 38.2%. If later price rebounds from it, pair is expected to start growing up again towards upper fibo-levels.



At H1 chart, despite short-term growth, pair may test previous minimums. One of the most important temporary targets may be reached on Wednesday. Possibly, price will test lower target levels tomorrow.



USD/CHF

Franc is moving close to its local minimums.  However, price may yet continue current correction. Closest target for bulls is at level of 38.2%, from which later pair may rebound.



At H1 chart we can see, that upper target area is formed by three fibo-levels. According to analysis of temporary fibo-zones, predicted targets may be reached on Wednesday. If pair rebounds from 38.2%, I’ll start selling.



 
RoboForex Analytical Department

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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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