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Fibonacci Retracements Analysis 10.03.2020 (EURUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the convergence on MACD made EURUSD start a quick and steady growth. By now, the pair has reached 38.2% fibo and may later start a new pullback. The next upside targets may be 50.0% and 61.8% fibo at 1.1665 and 1.1874 respectively. The key support is the low at 1.0777.

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

In the H4 chart, the pair is approaching 23.6% fibo at 1.1325. The next downside target may be 38.2% and 50.0% fibo at 1.1221 and 1.1136 respectively. The resistance is the high at 1.1495.

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 breaking a significant low at 104.45 and testing the post-correctional extension area between 138.2% and 161.8% between 101.50 and 99.64 respectively, USDJPY has returned to the low again.

USDJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is correcting after a descending impulse. The price is heading towards 38.1% fibo at 105.40 and may continue moving towards 50.0% fibo at 106.72. if the price breaks the support at 101.18, the mid-term downtrend will continue.

USDJPY_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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