Fibonacci Retracements Analysis 05.11.2014 (EUR/USD, USD/CHF)

05.11.2014

Analysis for November 5th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar has resumed falling.  Earlier, I decided to change the target for my sell order; now it’s the group of lower fibo-levels at 1.2215 – 1.2190. During the correction, which has probably finished, I opened two additional sell orders.



At the H1 chart, the predicted targets are confirmed by several local retracements. Temporary fibo-zones indicate that a local correction has completed at retracement 78.6%. I’m planning to move stop losses on my orders to 1.2550 after the price breaks the minimum.




USD CHF, “US Dollar vs Swiss Franc”

Franc is attempting to start a new ascending movement. 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. During this correction, I’ve already opened two additional buy orders. 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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