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Fibonacci Retracements Analysis 21.01.2022 (AUDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the asset is moving to the downside after finishing the correctional uptrend at 50.0% fibo and divergence on MACD. One can expect another rising impulse towards 61.8% and 76.0% fibo at 0.7340 and 0.7420 but the main scenario implies a further downtrend to reach the low at 0.6991.

Fibonacci Retracements Analysis 21.01.2022 AUDUSD_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 descending tendency, which has already tested 38.2% fibo twice. The next downside targets may be 50.0%, 61.8%, and 76.0% fibo at 0.7152, 0.7114, and 0.7069 respectively. The resistance is the high at 0.7314.

Fibonacci Retracements Analysis 21.01.2022 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, the price is still falling; right now, it testing 50.0% fibo. Later, after completing a slight pullback, the asset may continue trading downwards to reach 61.8% and 76.0% fibo at 1.2372 and 1.2237 respectively. The resistance is the high at 1.2963.

Fibonacci Retracements Analysis 21.01.2022 USDCAD_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 correction. After divergence on MACD, the growth has reached 23.6% fibo; the next upside targets may be 38.2% and 50.0% fibo at 1.2589 and 1.2631 respectively. A breakout of the local low at 1.2450 will indicate that the pullback is over and the asset may resume trading downwards.

Fibonacci Retracements Analysis 21.01.2022 USDCAD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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