Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD is testing the high at 1.2310 and trying to break the post-correctional extension area between 138.2% and 161.8% fibo at 1.2167 and 1.2262 respectively. If the price breaks the high, the pair may continue growing to reach the long-term fractal high at 1.2555. At the same time, despite a stable trend to the upside, there is a divergence on MACD, which may indicate a possible descending correction soon with the targets at 23.6%, 38.2%, and 50.0% fibo at 1.2143, 1.2040, and 1.1956 respectively.
The H1 chart shows that after a short-term pullback, the asset is trying to fix above its previous high. The next possible targets are inside the post-correctional extension area between 138.2% and 161.8% fibo at 1.2327 and 1.2362 respectively. On the other hand, if EURUSD breaks the local low at 1.2130 again, the asset may continue the mid-term correction to the downside.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the pair is still moving downwards after finishing the correction. Possibly, the asset may break the low at 102.70 and then continue falling to reach the fractal low at 101.18. However, considering a convergence on MACD, USDJPY may yet correct upwards to reach 23.6%, 38.2%, and 50.0% fibo at 104.82, 106.14, and 107.21 respectively.
In the H1 chart, the pair has broken an important support area; right now, it is falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 102.21 and 101.62 respectively.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- Gold Falls for the Fifth Consecutive Trading Session Nov 14, 2024
- Profit-taking is observed on stock indices. The data on wages in Australia haven’t met expectations Nov 13, 2024
- USD/JPY at a Three-Month Peak: No One Opposes the US Dollar Nov 13, 2024
- Can Chinese Tech earnings offer relief for Chinese stock indexes? Nov 13, 2024
- Bitcoin hits an all-time high above $88,000. Oil remains under pressure Nov 12, 2024
- Brent Crude Stumbles as Market Sentiments Turn Cautious Nov 12, 2024
- Bitcoin hits new record high just shy of $82,000! Nov 11, 2024
- The Dow Jones broke the 44 000 mark, and the S&P 500 topped 6 000 for the first time. The deflationary scenario continues in China Nov 11, 2024
- AUD/USD Stabilises as Traders Await Economic Signals Nov 11, 2024
- COT Metals Charts: Speculator Bets led lower by Gold, Silver & Platinum Nov 10, 2024
