RoboForex - Analytics

RoboForex

863.75 5.25/10
93% of positive reviews
Real
How to join the service?

Fibonacci Retracements Analysis 03.12.2021 (AUDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after breaking the low at 0.7106, AUDUSD is re-testing the long-term 38.2% fibo at 0.7052. The resistance is the local high at 0.7556. Convergence on MACD indicates a possible pullback soon.

AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair may start a new correction after reaching 38.2% fibo at 0.7052 and convergence on MACD. The upside correctional targets may be 23.6%, 38.2%, and 50.0% fibo at 0.7172, 0.7244, and 0.7304 respectively.

AUDUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after breaking 76.0% fibo, the mid-term rising wave in USDCAD continues moving towards the high at 1.2949. Moreover, a breakout of the high will lead to a further uptrend to reach the long-term 38.2% fibo at 1.3022. The support is the low at 1.2288. Divergence on MACD hints at a possible correction soon.

USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows the potential correctional targets after divergence on MACD – 23.6%, 38.2%, and 50.0% fibo at 1.2707, 1.2627, and 1.2563 respectively. A breakout of the local resistance at 1.2837 will result in a further uptrend.

USDCAD_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