Fibonacci Retracements Analysis 15.10.2013 (EUR/USD, USD/CHF)

Analysis for October 15^th, 2013

EUR/USD

Euro is still consolidating. Earlier the price rebounded from the upper levels and right now, the main target is at the local correctional level of 38.2%. If the price breaks it, the market will continue falling down.



At the H1 chart, the bears were supported by the level of 61.8% and the pair rebounded from it. According to the analysis of the temporary fibo-zones, the predicted levels may be reached by Wednesday. Later, I’m planning to move the stop on my short position into the black.

USD/CHF

Franc is moving inside flat pattern. The target is still at the correctional level of 38.2%. If later the pair breaks it, the bulls will start a deeper pullback.



At the H1 chart, the pair rebounded from the trend line and the level of 61.8%. The price is just several tens of pips away from its upper target. According to the analysis of the temporary fibo-zones, the predicted levels may be reached during the day.



 
RoboForex Analytical Department