Fibonacci Retracements Analysis 09.04.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD is being corrected upwards to reach the retracements of 38.2% and 50.0% at 1.1285 and 1.1315 respectively. The support is at 1.1183.
In the H1 chart, after finishing the ascending impulse, the pair started a new short-term correction, which is heading towards the retracement of 23.6% at 1.1246.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the uptrend has reached the retracement of 76.0%. There was a divergence on MACD, which made the pair start a new correction. After completing it, the instrument may start a new rising impulse towards the local resistance at 111.82 and then the key high at 112.13.
In the H1 chart, the correctional downtrend has already reached the retracement of 23.6%. The next possible targets are the retracements of 38.2% and 50.0% at 111.13 and 110.92 respectively.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.