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Fibonacci Retracements Analysis 21.04.2021 (GBPUSD, EURJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, after re-testing 38.2% fibo at 1.3643, GBPUSD has rebounded from this level once again. This rebound may be a signal in favor of a new rising wave to reach the high and the long-term fractal high at 1.4241 and 1.4376 respectively. Another scenario implies that the price may reach its previous local high and start forming a sideways channel. The descending correction will be heading towards 38.2% and 50.0% fibo at 1.3643 and 1.3457 respectively.

Fibonacci Retracements Analysis 21.04.2021 GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

На 1-часовом графике пары GBPUSD можно рассмотреть структуру подъёма после теста области минимума и конвергенции. Преодолев уровень 50,0% по Фибоначчи, котировки ушли в откат, целью которого может являться поддержка на уровне 38,2% (1,3888). Следующими целями подъёма стоит рассматривать уровни 61,8% (1,4022) и 76,0% (1,4103). Прорыв локального минимума на 1,3669 будет сигналом к продолжению среднесрочного нисходящего тренда.

Fibonacci Retracements Analysis 21.04.2021 GBPUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

In the H4 chart, after updating the previous high and attempting to reach 76.0% fibo at 131.95, EURJPY is starting a new correcting to the downside due to a divergence on MACD. The correction may be heading towards 23.6%, 38.2%, 50.0%, and 61.8% fibo at 128.77, 127.41, 126.30 and 125.20 respectively. The resistance is the high at 130.98.

Fibonacci Retracements Analysis 21.04.2021 EURJPY_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 bearish phase. The correctional downtrend will be heading not only towards 23.6% and 38.2% fibo at 128.77 and 127.41 respectively, but also the fractal support at 128.29. A breakout of the high may lead to a further uptrend to reach the post-correctional extension area between 138.2% and 161.8% fibo at 131.57 and 132.13 respectively.

Fibonacci Retracements Analysis 21.04.2021 EURJPY_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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