RoboForex - Analytics

RoboForex

887.75 5.25/10
79% of positive reviews
Real
How to join the service?

Fibonacci Retracements Analysis 19.01.2021 (EURUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the correctional downtrend has reached 38.2% fibo but right now, EURUSD is about to start a new pullback. After the pullback, the asset may resume falling to reach 50.0% and 61.8% fibo at 1.1976 and 1.1888 respectively. However, if this pullback transforms into a new rising wave, the instrument may break the high at 1.2350 and then continue growing towards the long-term fractal high at 1.2555.

Fibonacci Retracements Analysis 19.01.2021  EURUSD_H4
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 current correctional uptrend after a convergence on MACD. The closest upside target is 23.6% fibo at 1.2124, a breakout of which may lead to a further growth towards 38.2% and 50.0% fibo at 1.2167 and 1.2202 respectively. If EURUSD breaks the low at 1.2054, the asset may complete the pullback and resume trading downwards.

Fibonacci Retracements Analysis 19.01.2021 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, the pair is trying to move upwards after a correctional decline. The upside target may be the mid-term 23.6% fibo at 104.74, a breakout of which will lead to a further growth towards 38.2% and 50.0% fibo at 106.07 and 107.15 respectively. On the other hand, if the asset breaks the low at 102.59, the instrument may continue falling to reach the fractal low at 101.18.

Fibonacci Retracements Analysis 19.01.2021 USDJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, a divergence on MACD made the pair start a new pullback, which has already reached 38.2% fibo. One should note that on its way to the mid-term 23.6% fibo at 104.74, the asset must break the local high at 104.40. However, if the market rebound from the high, the next descending wave may be heading towards 50.0% fibo at 103.50.

Fibonacci Retracements Analysis 19.01.2021  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