Fibonacci Retracements Analysis 11.09.2018 (EURUSD, USDJPY)
EURUSD, “Euro vs US Dollar”
In the H4 chart, EURUSD has reached the retracement of 50.0% and started forming a new rising impulse, which is heading towards the retracements of 61.8 and 76.0% at 1.1653 and 1.1683 respectively. After breaking the high at 1.1733, the instrument may continue trading the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.1811 and 1.1862 respectively.
As we can see in the H1 chart, the uptrend is heading towards the retracements of 61.8% and 76.0% at 1.1653 and 1.1683 respectively.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY has finished the correction and started a new ascending impulse, which is getting closer to the retracement of 61.8% at 111.87 and may continue towards the retracement of 76.0% at 112.36. The resistance level is the high at 113.18, the support one is the low at 109.77.
In the H1 chart, the pair is forming a new ascending impulse. After breaking the short-term high at 111.87, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 112.38 and 112.71 respectively.
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.