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Fibonacci Retracements Analysis 02.09.2020 (GBPUSD, EURJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

On D1, the quotations renewed the last high and the long-term level of 61.8% Fibo. The impulse of growth that we see is aimed at 76.0% (1.3660). In such a confident trend, there is a local divergence forming,which might signal a pullback. The nearest goal of the decline may be the local support level at 50.0% Fibo (1.2895).

Fibonacci Retracements Analysis 02.09.2020  GBPUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H4, there is a pullback beginning after the growth and a divergence on the MACD. The nearest goal of the decline is 23.6% Fibo (1.3192). The next goals of the correctional decline might be 38.2% (1.3012) and 50.0% (1.2868). If the high at 1.3482 is broken away, this will signal the continuation of the uptrend.

Fibonacci Retracements Analysis 02.09.2020  GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

On H4, the pair is renewing the high and is entering the post-correctional extension area of 138.2-161.8% Fibo (126.38-127.59)for the second time. Also, there is a divergence on the MACD, which may precede a correctional decline. The first goal of the correction will be 23.6% (125.24). The resistance is at 127.07.

Fibonacci Retracements Analysis 02.09.2020  EURJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, the picture of the decline beginning after a divergence is more detailed. After the first wave reaches 23.6% (125.24), the next wave will aim at 38.2% (124.12), 50.0% (123.21), and 61.8% (122.28) Fibo. A breakaway of 127.07 will mean further growth.

Fibonacci Retracements Analysis 02.09.2020  EURJPY_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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