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Fibonacci Retracements Analysis 23.11.2021 EURUSD, USDJPY

EURUSD, Euro vs US DollarThe daily chart of EURUSD shows that the bearish phase is escalating. After breaking 61.8 fibo, the asset is heading towards 76.0 fibo at 1.1049. Previous local convergence on MACD resulted in a shortterm possible pullback, but thats all. The key resistance is still the high at 1.2350.The H1 chart shows convergence on MACD, which may hint at a possible pullback after the pair reaches 76.0 fibo at 1.1049. If it happens, the asset may grow and reach 23.6, 38.2, and 50.0 fibo at 1.1201, 1.1296, and 1.1370 respectively. A breakout of the fractal high at 1.1692 will result in a further uptrend towards the longterm high.USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, USDJPY continues trading upwards and has updated the high again. After the pullback is over, the pair may resume growing to reach the postcorrectional extension area between 138.2 and 161.8 fibo at 115.45 and 115.92 respectively. The key support is at 112.73.In the H1 chart, the asset may start a new pullback after testing the upside border of the postcorrectional extension area between 138.2 and 161.8 fibo at 115.45 and 115.92 respectively, which is confirmed by divergence on MACD. The correctional targets are 23.6, 38.2, and 50.0 fibo at 115.16, 114.70, and 114.32 respectively.

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