RoboForex - Analytics

RoboForex

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

Fibonacci Retracements Analysis 13.10.2020 (EURUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the ascending correctional wave has tested the long-term 61.8% fibo; right now, the divergence is competing this wave and the asset may start a new mid-term decline soon. The closest downside target will be 38.2% fibo at 1.1520. However, one should not that the instrument may yet continue growing towards the high at 1.2011 and the long-term 76.0% fibo at 1.2094.

Fibonacci Retracements Analysis 13.10.2020 EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows a wave to the upside after a convergence, which has reached 50.0% fibo. At the same time, a divergence is about to finish the uptrend but another rising impulse may yet reach 61.8% fibo at 1.1859. If the divergence is a reversal signal, then the asset may confirm a new decline by breaking the support area at 1.1765. In this case, the downside target will be the low at 1.1612.

Fibonacci Retracements Analysis 13.10.2020 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 H4 chart, after USDJPY is falling after a divergence and testing the area not far from 38.2% fibo at 106.24. If the price doesn’t fall towards the low at 104.00, the market may continue trading upwards to reach 38.2%, 50.0%, and 61.8% fibo at 106.24, 106.92, and 107.61 respectively. The current decline should be considered as a correction.

Fibonacci Retracements Analysis 13.10.2020 USDJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

НThe H1 chart shows a more detailed structure of the wave to the downside after the divergence. The descending wave has reached 38.2% fibo and right now is testing it. The next downside targets will be at 50.0% and 61.8% fibo at 105.60 and 104.81 respectively. If the asset breaks the high at 106.11, the pair will finish the correction and resume its mid-term growth.

Fibonacci Retracements Analysis 13.10.2020 USDJPY_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