Article By RoboForex.com
Analysis for January 16th, 2014
EUR/USD
After rebounding from level of 38.2% several times, Eurodollar started moving downwards. Right now, price is being corrected, but may start new descending movement in the nearest future. Main target for bears is several fibo-levels near 1.3490.
As we can see at H1 chart, target area is formed by three fibo-levels. If pair rebounds from them, price may start new correction. According to analysis of temporary fibo-zones, lower targets levels may be reached within next 24 hours.
USD/CHF
Franc is also being corrected; earlier price rebounded from correctional level of 38.2%. In the near term, bulls are expected to start new ascending movement and break previous maximums. Their target is several fibo-levels near 0.9180.
After making fast ascending movement, bulls decided to slow down a little bit. According to analysis of temporary fibo-zones, upper levels by the end of this week. If later pair rebounds from them, market may start new correction.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
