Fibonacci Retracements Analysis 30.12.2013 (EUR/USD, USD/CHF)
30.12.2013
Analysis for December 30th, 2013
EUR/USD
At weekly chart, Eurodollar rebounded from correctional level of 61.8%, which is a sign of reverse downwards. Main target for bears is near several fibo-levels at 1.17. Probably, the upcoming year may be very successful for bears.
At daily chart. Price is moving inside temporary fibo-zone. In addition to that, there are several additional levels near level of 61.8%, which make this area even more important. In the future, pair is expected to start moving downwards.
USD/CHF
In case of Franc, correction was quite short and reached only level of 38.2%. If bulls rebound from this level, pair may start new ascending movement. Main target is near several upper fibo-levels at 61.8%.
At daily chart, market is moving inside temporary fibo-zone, where last Friday price rebounded from lower levels once again. Most likely, new bullish trend will start after New Year holidays.
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.