RoboForex - Analytics

RoboForex

872.75 5.25/10
79% of positive reviews
Real
How to join the service?

Fibonacci Retracements Analysis 15.04.2020 (GBPUSD, EURJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after completing a short-term correction and breaking the local high, GBPUSD has reached 38.2% fibo. The next upside targets may be 50.0% and 61.8% fibo at 1.2892 and 1.3242 respectively, but the current growth is so slow that it may suggest a possible pullback. Another signal to confirm the pullback is a divergence on MACD. If the price breaks the low at 1.1409, the instrument may continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.1365 and 1.0996 respectively.

GBPUSD_H4 april 15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows a more detailed structure of the rising tendency. The pair is approaching 76.0% fibo at 1.2769. At the same time, there is a divergence on MACD, which may indicate a possible reversal towards 38.2% fibo (1.2092).

GBPUSD_H1 april 15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, nothing has really changed over the previous week. The pair has failed to reach 76.0% fibo at 121.25; right now, it is failing to break the local low at 116.13 and then the key one at 115.85. If it happens, the instrument may continue trading towards the post-correctional extension area between 138.2% and 161.8% fibo at 113.20 and 111.55 respectively.

EURJPY_H4 april 15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the correctional uptrend has reached 38.2% fibo and judging by the structure of the first descending wave the uptrend is very unlikely to reach 50.0% fibo at 119.50 anytime soon. The downside target and the support are the low at 116.35.

EURJPY_H1 april 15
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