EUR/USD, USD/JPY Fibonacci Retracements Analysis

EUR/USD

As we can see in the H4 chart, after a breakout of 23.6% fibo and a local convergence on MACD, EUR/USD is correcting upwards. The structure of this movement implies the asset may reach the high at 1.2011, break it, and then continue growing towards the long-term 76.0% fibo at 1.2094. However, despite pretty stable growth, one shouldn’t exclude a possibility of another descending impulse. After completing the pullback, the pair may head 38.2%, 50.0%, and 61.8% fibo at 1.1520, 1.1368, and 1.1218 respectively.

EURUSD_H4

The H1 chart shows a wave to the upside after a convergence, which is heading towards 76.0% fibo at 1.1810. If the asset breaks this level and then the fractal level at 1.1872, the price may start another mid-term ascending wave. The support remains at the low at 1.1612.

EURUSD_H1

USD/JPY

As we can see in the H4 chart, after completing the descending correction, USD/JPY is growing to reach its previous local high. If the price breaks it, the market may continue trading upwards to reach 38.2%, 50.0%, and 61.8% fibo at 106.24, 106.92, and 107.61 respectively. The support is the low at 104.00.

USDJPY_H4

The H1 chart shows a more detailed structure of the wave to the upside after the price finished the pullback towards 38.2% fibo. The wave has almost reached the high at 105.80, a breakout of which may lead to further growth towards the mid-term 38.2% fibo at 106.24. However, another scenario implies that the instrument may rebound from the high and form a new descending correctional structure with the targets at 50.0% and 61,8% fibo at 104.90 and 104.69 respectively.

USDJPY_H1

0 0 votes
文章评分
Subscribe
Notify of
guest
0 评论
Inline Feedbacks
View all comments