Fibonacci Retracements Analysis 05.06.2014 (EUR/USD, USD/CHF)
05.06.2014
Analysis for June 5th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still consolidating near its minimums. Possibly, price may to reach the group of lower fibo-levels at 1.3520 – 1.3505 during the day. If later pair breaks this target area, instrument will continue moving downwards.
As we can see at H1 chart, yesterday price rebounded from local level of 61.8%. According to analysis of temporary fibo-zones, price may reach lower target area today. I’ve got one sell order; stop is placed above maximums.
USD CHF, “US Dollar vs Swiss Franc”
After breaking its maximum, Franc started new correction. Possibly, price may reach new maximum during the day. Target is the group of upper fibo-levels at 0.9045 – 0.9040.
On Wednesday, price rebounded from level of 61.8% (0.8955), which means that market may start new ascending movement quite soon. According to analysis of temporary fibo-zone, price may reach the group of upper fibo-levels until the end of this trading week.
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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.