Latest News

Fibonacci Retracements Analysis 08.02.2022 EURUSD, USDJPY

EURUSD, Euro vs US DollarAs we can see in the H4 chart, the asset is quickly correcting to the upside after completing the previous downtrend, which failed to reach 76.0 fibo at 1.1047 due to convergence on MACD. As of now, the first rising impulse has already reached 23.6 fibo. In the nearest future, the pair may form a slight pullback, which may later be followed by a further uptrend towards 38.2 fibo at 1.1590. The support is the low at 1.1120.The H1 chart shows a more detailed structure of the current descending correction, which may be heading towards 23.6, 38.2, and 50.0 fibo at 1.1398, 1.1345, and 1.1302 respectively. A breakout of the resistance at 1.1484 will lead to a further uptrend.USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, USDJPY is moving upwards after finishing the previous correctional decline; it has already tested 76.0 fibo and may later continue to break the high at 116.35. After that, the instrument may continue growing towards the postcorrectional extension area between 138.2 and 161.8 fibo at 117.45 and 118.14 respectively. The key support is the low at 113.47.In the H1 chart, the previous correctional wave has reached 61.8 fibo, while a new wave to the upside is heading to break the local high at 115.68.

You may also like

Leave a reply

Your email address will not be published.

More in Latest News