Fibonacci Retracements Analysis 11.01.2018 (AUD/USD, USD/CAD)

11.01.2018

AUD USD, “Australian Dollar vs US Dollar”

At the H4 chart, the previous ascending movement was corrected only by 23.6%. The new rising impulse has already broken the high and may continue towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7899 and 0.7916 respectively. At the same time, we can see the divergence being formed.

AUDUSD1

At the H1 chart, the AUD/USD pair is being corrected downwards. The targets of this correction may be the retracements of 38.2%, 50.0%, and 61.8% at 0.7856, 0.7847, and 0.7838 respectively.

AUDUSD2

 

USD CAD, “US Dollar vs Canadian Dollar”

At the H4 chart, the descending correction reached the retracement of 61.8%. After that, the convergence was formed and the price started moving upwards. The targets of this growth may be the retracements of 50.0%, 61.8%, and 76.0% at 1.2639, 1.2705, and 1.2785 respectively. If the price breaks the high at 1.2920, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3135 and 1.3267 respectively.

USDCAD1

As we can see at the H1 chart, the pair is steadily trading inside the uptrend to reach 1.2539 and 1.2705.

USDCAD2

 

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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.