Fibonacci Retracements Analysis 20.12.2013 (EUR/USD, USD/CHF)

20.12.2013

Analysis for December 20th, 2013

EUR/USD

Eurodollar is still moving downwards and reaching new minimums. If price breaks level of 38.2%, it will continue falling down towards level of 50%. Stop on my sell order is already in the black.



As we can see at H1 chart, local correction reached only level of 23.6%. Market rebounded from this level and started moving downwards again. According to analysis of temporary fibo-zone, predicted targets may be reached either by the end of Friday or in the beginning of the next week.



USD/CHF

Franc continues moving upwards; market hasn’t formed any significant correction yet. Most likely, in the future pair will continue growing up towards level of 50%, which may later become starting point of another correction.



At H1 chart we can see, that local correction reached only level of 23.6%. According to analysis of temporary fibo-zones, predicted targets may be reached very soon, but I’ve decided to move stop into the black, just in case.



 
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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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