EURUSD
On H4, the EURUSD reached 38.20% Fibo after a midterm downtrend. Another falling tide is now forming, with the target at the low of 1.1176. If this one is reached, the price will head to the range between 138.20% and 161.80%, or 1.1072 to 1.1008. The resistance is meanwhile at the 1.1448 high.
On H1, the EURUSD is correcting after a heavy downtrend that reached 61.80% Fibo. The next target lies at 76% (1.1241), or the major low.
USDJPY
On H4, the USDJPY is forming a downtrend after divergence. The targets lie at 38.20%, and 50% Fibo, or 109.22, and 108.33, respectively. The high at 112.13 acts as a resistance.
On H1, the USDJPY is correcting after converging. The downtrend reached 23.60% Fibo and may continue to reach 38.20% (110.54) and 50% (110.80). The low at $109.71 acts as a support.
EURUSD
On H4, the EURUSD reached 38.20% Fibo after a midterm downtrend. A new fall is occurring, with the immediate target at 1.1176. If this one is reached, the price will head to the range between 138.20% and 161.80%, or 1.1072 to 1.1008. The resistance is meanwhile at the 1.1448 high.
On H1, the EURUSD is correcting after a heavy downtrend that reached 61.80% Fibo. The next target lies at 76% (1.1241), or the major low.
USDJPY
On H4, the USDJPY is forming a downtrend after divergence. The targets lie at 38.20%, and 50% Fibo, or 109.22, and 108.33, respectively. The high at 112.13 acts as a resistance.
On H1, the USDJPY is correcting after converging. The downtrend reached 23.60% Fibo and may continue to reach 38.20% (110.54) and 50% (110.80). The low at $109.71 acts as a support.
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.