Fibonacci Retracements Analysis 09.06.2014 (EUR/USD, USD/CHF)

Analysis for June 9^th, 2014

EUR USD, “Euro vs US Dollar”

Euro is still being corrected. Earlier, price rebounded from the group of lower fibo-levels. Later pair is expected to test local minimum and then start new ascending movement towards level of 50% (1.3747).



At H1 chart, price is getting closer to temporary fibo-zone. Possibly, inside this zone pair may rebound from local level of 38.2% (1.3610) and start new ascending movement.

USD CHF, “US Dollar vs Swiss Franc”

After reaching the group of upper fibo-levels, market started new correction. Most likely, after local correction, pair may continue falling down towards level of 50% (0.8870). If later pair rebounds from it, bulls may try to reverse market upwards again.



As we can see at H1 chart, target of current local correction is at level of 38.2% (0.8956). Possibly, price may reach it inside temporary fibo-zone. If price rebounds from it, I’m planning to open another sell order, my second one.



 
RoboForex Analytical Department