Latest News

Fibonacci Retracements Analysis 07.12.2021 EURUSD, USDJPY

EURUSD, Euro vs US DollarAs we can see in the H4 chart, there is a local consolidation within the correctional uptrend; the correctional wave has reached 38.2 fibo after convergence on MACD. The current technical picture implies a new rising impulse after the consolidation towards 50.0 and 61.8 fibo at 1.1439 and 1.1500 respectively. On the other hand, a breakout of the local low at 1.1186 may result in a further downtrend towards the midterm 76.0 fibo at 1.1047. The key resistance is at 1.1692.The H1 chart shows a more detailed structure of the current consolidation range after the rising wave. This consolidation is the markets response to a quick and volatile correctional impulse to the downside after local divergence on MACD, which almost immediately reached 76.0 fibo at 1.1233. At the moment, the asset is trading at 50.0 fibo, while the next rising impulse may be heading to break the high at 1.1383.USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, USDJPY is forming a slight pullback after completing the descending wave at 23.6 fibo at 112.47. The next downside targets are 38.2 and 50.0 fibo at 110.58 and 109.06 respectively. The resistance is the high at 115.52.The H1 chart shows a more detailed structure of the current consolidation range after the correction. The correctional uptrend has already reached 38.2 fibo and may later continue towards 50.0 and 61.8 fibo at 114.02 and 114.37 respectively. A breakout of the low at 112.53 will lead to a further…

You may also like

Leave a reply

Your email address will not be published.

More in Latest News