Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, the divergence made EURUSD start a new correction, which has almost reached the retracement of 38.2%. This descending correction may yet continue towards the retracements of 38.2%, 50.0%, and 61.8% at 1.2232, 1.2134, and 1.2036 respectively. After completing the correction, the price may start a new ascending impulse to break the high at 1.2555. In this case, later the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2666 and 1.2736 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, after the convergence, the pair started a new local correction; it has already reached the retracement of 38.2% at 1.2371. The next target of the correction may be the retracements of 50.0%, 61.8%, and 76.0% at 1.2406, 1.2441, and 1.2483 respectively, and then the high at 1.2555.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
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USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is being corrected upwards and has almost reached the retracement of 50.0%. The next upside targets mat be the retracements of 61.8% and 76.0% at 108.58 and 109.30 respectively. The main support level is the low at 105.54.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the convergence made the pair start a new ascending impulse, which has already reached the retracement of 50.0%. The next targets of this impulse may be the retracements of 61.8% and 76.0% at 107.31 and 107.53 respectively. After breaking the high at 107.90, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 108.49 and 108.85 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department
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.
