Fibonacci Retracements Analysis 04.11.2014 (EUR/USD, USD/CHF)

04.11.2014

Analysis for November 4th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar is still moving inside flat. Yesterday, I decided to change the target for my sell order; now it’s the group of lower 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 the current correction may complete during the next several hours. I’m planning to move stop losses on my order to 1.2550 after the price breaks the minimum.




USD CHF, “US Dollar vs Swiss Franc”

Franc continues consolidating. 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 continue to increase my long position during this correction. If the pair rebound from the upper levels, the market may start a serious pullback 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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