Fibonacci Retracements Analysis 20.06.2019 (AUDUSD, USDCAD)

20.06.2019

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after breaking the previous low, AUDUSD has reached 61.8% fibo. Right now, the pair is forming a new short-term correction towards the resistance at 50.0% fibo at 0.6921. After finishing the correction, the price may continue falling. The closest downside targets may be the post-correctional extension area between 138.2% and 161.8% fibo at 0.6806 and 0.6768 respectively, and then 76.0% fibo at 0.6727.

AUDUSD_H4_Анализ по Фибоначчи
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, AUDUSD is being corrected upwards and has already reached 38.2% fibo. In the future, the growth may continue towards 50.0% and 61.8% fibo at 0.6926 and 0.6949 respectively.

AUDUSD_H1_Анализ по Фибоначчи
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after completing the long-term pullback, USDCAD is forming another descending wave. Right now, the pair is testing the previous low. The targets of the current decline are 76.0% fibo at 1.3188, the post-correctional extension area between 138.2% and 161.8% fibo at 1.3168 and 1.3121 respectively, and the key long-term low at 1.3068. The resistance is at 1.3432.

USDCAD_H4_Анализ по Фибоначчи
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is steadily trading downwards to reach 76.0% fibo at 1.3188.

USDCAD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.