Fibonacci Retracements Analysis 27.01.2014 (EUR/USD, USD/CHF)

27.01.2014

Analysis for January 27th, 2014

EUR/USD

Euro is still being corrected; main target is close to several upper fibo-levels, near 1.3490. Earlier price rebounded from correctional level of 61.8% and started moving upwards.



At H1 chart we can see, market may fall down towards local level of 50% during the day. If later pair rebounds from it, price may start new ascending movement.



USD/CHF

Franc is also being corrected. However, bears may start new descending movement quite soon, that’s why I’m keeping my sell order with target close to several lower fibo-levels at 0.8700.



As we can see at H1 chart, correction may yet continue during the day. Bulls are very unlikely to break level of 38.2%. If price rebounds from this level, I’ll increase my short position. After pair breaks minimum, I’ll move stop into the black.



 
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