Fibonacci Retracements Analysis 01.09.2021 (GBPUSD, EURJPY)

September 1, 2021

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the current growth is slowing down. This technical picture implies that the asset may start a new descending wave. The first downside target will be the low at 1.3572, a breakout of which may lead to a further downtrend towards the mid-term 38.2% fibo at 1.3419. On the other hand, the price may rebound from the low and resume trading upwards to reach 61.8% and 76.0% fibo at 1.3991 and 1.4087 respectively.


The H1 chart shows that after correcting upwards by 50.0%, the asset may continue growing to reach 61.8% fibo at 1.3838. At the same time, there is divergence on MACD may indicate a new short-term decline soon towards the local support at 1.3602.



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





EURJPY, “Euro vs. Japanese Yen”

In the H4 chart, the asset is correcting upwards after a test of 50.0% fibo at 127.87 and convergence on MACD. After the pullback is over, the pair may resume falling towards the mid-term 61.8% fibo at 126.40. The resistance is the high at 134.12.


As we can see in the H1 chart, convergence on MACD made the asset start a new correctional uptrend towards 38.2% fibo at 130.29. The next upside target may be 50.0% fibo at 131.02. On the other hand, a breakout of the local low at 127.93 will lead to a further downtrend. Also, there might be divergence on MACD to indicate a new decline soon.

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.

InvestMacro

Share
Published by
InvestMacro

Recent Posts

Gold Prices Rise Amid Weakening US Dollar and Geopolitical Tensions

By RoboForex Analytical Department  Gold prices have risen for four consecutive days, reaching 2,660 USD…

9 hours ago

Public health surveillance, from social media to sewage, spots disease outbreaks early to stop them fast

By John Duah, Auburn University  A cluster of people talking on social media about their…

1 day ago

EUR/USD Steady Ahead of Major US Data Releases

By RoboForex Analytical Department EUR/USD remains stable at around 1.0483 as markets digest the implications…

2 days ago

Donor-advised funds are drawing a lot of assets besides cash – taking a bigger bite out of tax revenue than other kinds of charitable giving

By Brian Mittendorf, The Ohio State University  Donor-advised funds, or DAFs, are financial accounts funded…

2 days ago

NZD/USD Hits Yearly Low Amid US Dollar Strength

By RoboForex Analytical Department The NZD/USD pair has experienced a significant decline, touching a low…

3 days ago

This website uses cookies.