Fibonacci Retracements Analysis 26.12.2013 (EUR/USD, USD/CHF)
26.12.2013
Analysis for December 26th, 2013
EUR/USD
Eurodollar is still consolidating. Probably, price completed local correction and is about to start new descending movement towards lower fibo-levels. I’m keeping my sell order with stop at local maximum.
As we can see at H1 chart, price is entering temporary fibo-zone, where it may finish current correction. Possibly, pair may reverse and reach new local minimum until the end of this week.
USD/CHF
Franc is trying to start new ascending movement. Possibly, price may break previous maximum in the nearest future. In general, pair is expected to grow up towards upper fibo-levels, which may later become starting point of new correction.
At H1 chart, market is moving inside temporary fibo-zone. Most likely, this is the place, where price is going to finish this slight correction. I’ll move stop on my buy order into the black as soon as pair reaches new maximum.
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