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