Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
On D1, the quotations are demonstrating another attempt to test 50.0% (1.1493) Fibo in a long-term bearish phase. Also note that a local divergence is forming on the MACD, which might hint on a short-term pullback. When it is over, another wave of decline will head for not only 50.0% (1.1493) but also 61.8% (1.1290).
On H4, one can see potential goals of the ascending correction after a local convergence on the MACD. Now the quotations have risen to 23.6%, and later they can reach 38.2% (1.1664) and 50.0% (1.1711) Fibo. A breakaway of the low at 1.1513 will signal about the continuation of the downtrend.
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”
On D1, there is a downward movement beginning after a divergence. Potential goals of the medium-term decline are 23.6% (111.85), 38.2% (110.07), and 50.0% (108.64) Fibo. The main resistance is at the high of 114.70.
On H4, there is a correctional decline to the last wave of growth. By now, the quotations have come over 23.6% and are aiming at 38.2% (112.56) Fibo. After coming over this level, the decline might continue to 50.0% (111.90) and 61.8% (111.25). The key medium-term support is 109.11.
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.
- IMF warns that US tariffs portend a slowdown in global economic growth Apr 23, 2025
- Pound Hits Fresh High Against the US Dollar Before Correcting: What’s Driving GBP/USD? Apr 23, 2025
- Trump lashed out at the US Federal Reserve chief Jerome Powell with criticism. Energy prices are falling Apr 22, 2025
- EUR/USD Hits Three-Year High as US White House Policy Concerns Mount Apr 21, 2025
- Today is Good Friday — most financial markets will be closed Apr 18, 2025
- EUR/USD in Equilibrium: Quiet Trading Expected on Good Friday Apr 18, 2025
- The Bank of Canada kept the interest rate unchanged. In New Zealand, there is an increase in inflation Apr 17, 2025
- Pound Among the Winners Boosted by US Dollar Weakness and Rate Cut Prospects Apr 17, 2025
- China data beat expectations. Inflationary pressures in Canada continue to ease Apr 16, 2025
- Japanese Yen Surges as Weak US Dollar Fuels Momentum Apr 16, 2025
