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.
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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.
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