Fibonacci Retracements Analysis 14.02.2018 (GBPUSD, EURJPY)

14.02.2018

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is still being corrected downwards; it has already reached the retracement of 50.0%. The next downside targets are the retracements of 61.8% and 76.0% at 1.3702 and 1.3554 respectively. The main resistance level is the high at 1.4345.

GBPUSD1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, the convergence made the pair start moving upwards; this movement may be considered as a pullback, which has already reached the retracement of 23.6%. The next targets of the ascending correction may be the retracements of 38.2% and 50.0% at 1.3963 and 1.4023 respectively. After breaking the low, the instrument may continue falling towards 1.3702.

GBPUSD2
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

EURJPY, “Euro vs. Japanese Yen”

In the H4 chart, we can see that after the divergence EURJPY stared a new correction, which has already reached the retracement of 23.6%. The next downside target is the retracement of 38.2% at 128.88. However, if the price starts a new ascending and breaks the high at 137.50, the instrument may grow towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 139.59 and 140.87 respectively.

EURJPY1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, EURJPY is being corrected to the upside after the convergence and has already reached the retracement of 23.6%. The next targets of the correction are the retracements of 38.2%, 50.0%, and 61.8% at 134.10, 134.75, and 135.37 respectively.

EURJPY2
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

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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