RoboForex - Analytics

RoboForex

863.75 5.25/10
80% of positive reviews
Real
How to join the service?

Fibonacci Retracements Analysis 01.12.2021 (GBPUSD, EURJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after failing to test the long-term 38.2% fibo at 1.3166, the asset is forming a new pullback to the upside. However, it doesn’t mean that the descending tendency is over. Convergence on MACD is another signal in favour of the ascending correction. A breakout of the local low at 1.3194 will lead to a further downtrend towards the long-term target. The key resistance is at 1.3834.

GBPUSD_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 growth towards 23.6% fibo at 1.3345. After a slight pullback, the correctional uptrend may continue to reach 38.2% and 50.0% fibo at 1.3438 and 1.3514 respectively.

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

EURJPY, “Euro vs. Japanese Yen”

The daily chart shows that after falling and reaching 50.0% fibo, EURJPY is correcting upwards. After the pullback is over, the asset may continue falling towards 61.8% fibo at 126.40. Later, the market may start a new uptrend to reach the high at 134.12.

EURJPY_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the H4 chart, after testing and breaking the mid-term 50.0% fibo, EURJPY is correcting upwards; right now, it is approaching 23.6% fibo at 128.90 and may later continue towards 38.2% and 50.0% fibo at 129.78 and 130.48 respectively. The support is the low at 127.49.

EURJPY_H4
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