Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD is slowing the descending tendency down a little bit on its way to the long-term 50.0% fibo at 1.1493. At the same time, there is convergence on MACD, which may hint at a possible pullback or even reversal. If the asset reaches the target but rebounds from it, the pair may resume moving upwards to update the high at 1.2350.
The H1 chart shows the potential correctional targets after local convergence on MACD – 23.6%, 38.2%, and 50.0% fibo at 1.1619, 1.1674, and 1.1719 respectively. On the other hand, a breakout of the low at 1.1529 will lead to a further downtrend.
Free Reports:
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
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.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after breaking the high at 111.66, USDJPY has entered the post-correctional extension area between 138.2% and 161.8% fibo at 112.78 and 113.47 respectively. The current technical picture implies a possible pullback soon towards 111.66. The support is still the local low at 108.72.
The H1 chart shows the targets of the above-mentioned pullback – 23.6%, 38.2%, and 50.0% fibo at 112.45, 111.82, and 111.30 respectively. The key resistance here is the high at 113.49.
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.
- TSLA shares rose on a weak report. Inflationary pressures are easing in Australia Apr 24, 2024
- USDJPY: On intervention watch Apr 24, 2024
- Euro gains against the dollar amid mixed economic signals Apr 24, 2024
- PMI data is the focus of investors’ attention today. Turkey, Iraq, Qatar, and UAE signed a transportation agreement Apr 23, 2024
- Australian dollar rises on strong economic indicators Apr 23, 2024
- Geopolitical risks in the Middle East are declining. China kept interest rates at lows Apr 22, 2024
- Brent crude dips to four-week low amid easing geopolitical tensions Apr 22, 2024
- COT Metals Charts: Speculator bets led by Copper & Silver Apr 20, 2024
- COT Bonds Charts: Speculator bets led by 10-Year Bonds & Fed Funds Apr 20, 2024
- COT Stock Market Charts: Speculator bets led by S&P500-Mini Apr 20, 2024
