Fibonacci Retracements Analysis 10.10.2017 (EUR/USD, USD/JPY)

October 10, 2017

Article By RoboForex.com

EUR USD, “Euro vs US Dollar”

As we can see at the H4 chart, the mid-term uptrend has been corrected by 23.6%. In the short-term (after forming the convergence), the EUR/USD pair may be corrected to the upside a little bit. The next targets of this correction may be the retracements of 38.2%, 50.0%, and 61.8% at 1.1808, 1.1851, and 1.1894 respectively.

EURUSD1

At the H1 chart, the situation is similar and confirms the H4 chart scenario. In the nearest future, the pair may start a short-term decline towards 1.1731.

EURUSD2

 

USD JPY, “US Dollar vs. Japanese Yen”

As we can see at the H4 chart, the USD/JPY pair has formed the divergence and then started a new correction. The main targets of this correction may be the retracements of 23.6%, 38.2%, and 50.0% at 111.98, 111.11, and 110.38 respectively. The resistance level is close to the high at 113.43.


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USDJPY1

At the H1 chart, the pair is being corrected sideways after finishing the descending impulse. If the price breaks the local low at 112.32, the next closest targets will be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 112.14 and 112.02 respectively.

USDJPY2

 

RoboForex Analytical Department

Article By RoboForex.com

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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.