Fibonacci Retracements Analysis 13.03.2018 (EURUSD, USDJPY)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the correction to the downside continues. After finishing a short ascending impulse, EURUSD is starting a new descending one, the closest target of which is the retracement of 50.0% at 1.2137. After breaking the local low, the instrument may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2045 and 1.1977 respectively. The resistance level is at 1.2445.

EURUSD1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, EURUSD is being corrected upwards and has already reached the retracement of 38.2%. Later, the correction may continue towards the retracements of 50.0% and 61.8% at 1.2359 and 1.2379 respectively. However, after breaking the local low, the instrument may fall towards the retracements of 61.8% and 76.0% at 1.2266 and 1.2225 respectively.

EURUSD2Risk 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. The main target is the retracement of 50.0% at 107.89. After breaking the low at 105.28, the price may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 104.66 and 104.11 respectively.

USDJPY1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, the pair is moving upwards and testing the local high. The upside target may be the post-correctional extension area between the retracements of 138.2% and 161.8% at 107.35 and 107.54 respectively.

USDJPY2
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.