RoboForex - Analytics

RoboForex

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

Fibonacci Retracements Analysis 14.01.2020 (EURUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, EURUSD is finishing the correctional downtrend at 61.8% fibo at 1.1079. there might be another descending wave, but it’s very unlikely. The main scenario implies that the price may form a new rising impulse to reach the local high at 1.1239 and then mid-term 76.0% fibo at 1.1248.

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the convergence made the pair reverse and start a new ascending impulse, which has reached 38.1% fibo. The next upside targets may be 50.0%, 61.8%, and 76.0% fibo at 1.1162, 1.1180, and 1.1202 respectively.

EURUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the daily chart, after finishing the correctional downtrend, USDJPY has updated its weekly highs and right now is trading towards the mid-term target at 76.0% fibo (110.49). At the same time, we should note that in this situation the key target may be the fractal high at 112.40. The support is 50.0% fibo at 108.43.

USDJPY_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H4 chart, the ascending impulse is heading towards the mid-term target at 76.0% fibo at 110.49.

USDJPY_H4
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