Fibonacci Retracements Analysis 07.12.2017 (AUD/USD, USD/CAD)

07.12.2017

AUD USD, “Australian Dollar vs US Dollar”

As we can see at the H4 chart, the AUD/USD pair is finishing the ascending correction and may start a new descending impulse soon. The downside targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7486 and 0.7458 respectively.

AUDUSD1

At the H1 chart, the pair is trading downwards to test the low.

AUDUSD2

 

USD CAD, “US Dollar vs Canadian Dollar”

As we can see at the H4 chart, after being corrected to the downside by 61.8%, the USD/CAD pair has started a new ascending impulse. If the price breaks the high at 1.2917, it may move towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3027 and 1.3096 respectively.

USDCAD1

At the H1 chart, the current uptrend is moving towards the retracement of 76.0% at 1.2848. However, the main short-term target is near the high at 1.2917.

USDCAD2

 

RoboForex Analytical Department

 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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