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Fibonacci Retracements Analysis 01.06.2021 (EURUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

The H4 chart shows that after completing a slight short-term pullback, EURUSD is forming a new rising impulse towards the long-term high at 1.2350. At the same time, there is a divergence on MACD, which may indicate a rebound from the local high and a new descending wave to reach the local support at 61.8% fibo (1.2103).

Fibonacci Retracements Analysis 01.06.2021 EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the price is moving upwards to reach the local high at 1.2266. The chart also shows the correctional targets after a divergence on MACD – 38.2% and 50.0% fibo at 1.2051 and 1.1985 respectively.

Fibonacci Retracements Analysis 01.06.2021 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”

In the H4 chart, the pair has finally decided on the direction – right now, it is moving upwards to reach the local high at 110.97, a breakout of which will lead to a further uptrend towards the long-term high at 111.71. However, there is a divergence on MACD, which may result in a rebound and a new wave to the downside to reach 50.0% fibo at 106.78.

Fibonacci Retracements Analysis 01.06.2021 USDJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the H1 chart, the asset is correcting downwards after a divergence on MACD, By now, has already tested 50.0% fibo and may continue falling towards 61.8% fibo at 109.19. The resistance is the local high at 110.20.

Fibonacci Retracements Analysis 01.06.2021 USDJPY_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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