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Fibonacci Retracements Analysis 28.12.2021 EURUSD, USDJPY

EURUSD, Euro vs US DollarAs we can see in the H4 chart, EURUSD is still consolidating at 23.6 fibo and correcting the previous descending wave; the correctional wave has already reached 38.2 fibo after convergence on MACD. The current technical picture implies two possible scenarios a new rising impulse towards 50.0 and 61.8 fibo at 1.1439 and 1.1500 respectively, and a further downtrend to reach the low at 1.1186, a breakout of which may lead to 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, which may be considered as a correction after the rising wave. A quick and volatile correctional impulse to the downside after local divergence on MACD has reached 76.0 fibo. At the moment, the asset is trading between 23.6 and 38.2 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, after completing a quick descending wave towards 23.6 fibo at 112.47, USDJPY is forming a steady rising impulse to reach the high at 115.52. If the pair fails to break the high, it may resume falling to reach 38.2 and 50.0 fibo at 110.58 and 109.06 respectively. On the other hand, if the pair succeeds, it may continue growing towards the postcorrectional extension area between 138.2 and 161.8 fibo at 116.65 and 117.36 respectively.In the H1 chart, the pair has reached 76.0 fibo; right now, it is trying to break this…

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