Fibonacci Retracements Analysis 22.04.2013 (EUR/USD, USD/CHF)
22.04.2013
Analysis for April 22nd, 2013
EUR/USD
After rebounding from the level of 38.2%, Euro is expected to continue its correction, at least. The market may continue falling down towards the target area, where there are several fibo-levels at the same time. If the price breaks these levels, the pair will continue moving towards the level of 1.2835.
A local correction finished near the level of 61.8%. A short term-target is at the level of 1.2920. Analysis of fibo-zones indicates that predicted levels may be reached during 24 hours.
USD/CHF
Franc rebounded from the level of 61.8% and started growing up. The target for the next several days is at the level of 0.9415, where there are several fibo-levels at the same time. If the price breaks these levels, the pair will continue moving upwards to reach the target at 0.9470.
At the H1 chart, a local correction finished at the level of 38.2%. According to the analysis of temporary fibo-zones, the market may reach target levels by the beginning of Tuesday. Most likely, in the nearest future the price will start growing up again.
RoboForex Analytical Department
Attention!
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.