RoboForex - Analytics

RoboForex

944.75 5.25/10
79% of positive reviews
Real
How to join the service?

Fibonacci Retracements Analysis 12.12.2019 (AUDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the convergence made AUDUSD start a new rising wave to reach the high at 0.6929. If the price breaks it, the uptrend will continue towards the long-term target at 50.0% (0.6985).

AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows more detailed structure of the current correctional uptrend, which has already reached 76.0% fibo. Right now, the pair is expected to form a new pullback towards the local support at 50.0% fibo (0.6841).

AUDUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the bearish tendency continues. After completing the pullback towards the resistance at 23.6% fibo (13261), USDCAD is forming another descending impulse. The next downside targets may be 61.8% and 76.0% fibo at 1.3151 and 1.3111 respectively. However, the key target is the low at 1.3042.

USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows more detailed structure of the current descending tendency. As we can see, the pair is getting close to the target, which is 61.8% fibo at 1.3151.

USDCAD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree