Fibonacci Retracements Analysis 28.11.2013 (EUR/USD, USD/CHF)

28.11.2013

Analysis for November 28th, 2013

EUR/USD

Eurodollar is still being corrected. It looks like price may continue falling down for a while during the day, but later market is expected to start new ascending movement towards several fibo-levels near 61.8%.



As we can see at H1 chart, target of current local correction is level of 50%. According to analysis of temporary fibo-zones, this level may be reached during Thursday. If market rebounds from it, I’ll increase my long positions. Right now, I’ve got only one limit order.



USD/CHF

Franc may also yet correct for a while, but later price is expected to start final descending movement. Target is still in area formed by three fibo-levels.



Local target for bulls is level of 61.8%. According to analysis of temporary fibo-zones, pair may reach this target during the day after completing local correction. If price rebounds from level of 61.8%, I’m planning to open sell order with target ay lower levels.



 
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