Fibonacci Retracements Analysis 13.11.2014 (EUR/USD, USD/CHF)

13.11.2014

Analysis for November 13th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar is still being corrected; the market hasn’t been able to stay above retracement 38.2%. That’s why in the nearest future the price may resume falling towards the group of lower fibo-levels.



At the H1 chart, flat continues. The price has been supported by several local retracements. In the near term, the pair may continue falling towards the group of lower fibo-levels at 1.2180 – 1.2200.



 

USD CHF, “US Dollar vs Swiss Franc”

Taking into account that Franc has rebounded from a local retracement 38.2% several times, we can’t rule out the possibility that the price may finish correction at the current levels and resume growing. The target is still the group of upper fibo-levels.



Probably, at the H1 chart the price is completing the current correction. Local retracements indicate that this correction may finish at retracement 38.2%. Possibly, the pair may break the maximum quite soon.



 
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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