Fibonacci Retracements Analysis 03.11.2014 (EUR/USD, USD/CHF)

03.11.2014

Analysis for November 3rd, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar continues falling, so I’ve decided to change the target for my sell order. Now it’s the group of fibo-levels at 1.2215 – 1.2190. In addition to that, I’ve opened an additional sell order during a correction.



At the H1 chart, the predicted targets are confirmed by several local retracements. Temporary fibo-zones indicate that bears nay reach the lower target area during the next 24 hours. if they rebound from it, the pair may start a new correction.




USD CHF, “US Dollar vs Swiss Franc”

Franc continues moving towards its high. Last week the price rebounded from retracement 61.8% and resumed growing. The target for bulls is the group of upper fibo-levels.



At the H1 chart, the upper targets are confirmed by several local retracements. I’ve already moved the stop loss on my buy order opened earlier to breakeven and opened an additional buy order during a correction. After the pair breaks the maximum, I’m planning to move the stop loss on both orders below the previous minimum.



 
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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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