Fibonacci Retracements Analysis 06.08.2013 (EUR/USD, USD/CHF)

Analysis for August 6^th, 2013

EUR/USD

Euro is still consolidating. The price couldn’t break the level of 78.6% again. The target for the next several days is in the area between the levels of 161.8% and 38.2%.



At the H1 chart, the temporary fibo-zones indicated the exact point of a reverse. A local correction reached the level of 61.8% and rebounded from it. The first target for the bears will be at the level of 100% (fibo-extension).

USD/CHF

Franc is testing the level of 78.6% again. If the bulls are able to rebound from this level, the pair will start a correction, at least, and then may break a local maximum.



At the H1 chart, the pair reached the level of 78.6%. Earlier, the temporary fibo-zones indicated the exact point where the previous descending movement was finished. The short-term target is the area between the levels of 38.2% and 100%.



 
RoboForex Analytical Department