Analysis for May 27th, 2013
Euro is still being corrected. In the beginning of the week, the price may grow up and reach the level of 61.8% from the previous descending movement. If the market rebounds from this level, the price will start a new descending movement towards the target area at the level of 1.2650.
At the H1 chart, a local correction is taking place. During Monday, the instrument may grow up a little bit. According to the analysis of the temporary fibo-zones, the pair may complete this correction by Wednesday.
Franc started a correction, which may continue up to the 50% level from the previous ascending movement. If the bulls rebound from this level, the pair may start growing up towards the target at the level of 0.9900. I opened a buy order at a local maximum.
There is a possibility that the pair may complete this slight correction during the day and start a final descending movement. According to the analysis of the temporary fibo-zones, the level of 50% may be reached by the middle of the week.
RoboForex Analytical Department