Investing.com UK - Financial Markets Worldwide
Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Fibonacci Retracements Analysis EUR/USD, USDJPY

ByDmitriy Gurkovskiy
Published 25/08/2020, 12:13
EUR/USD
-
USD/JPY
-

EUR/USD
As we can see in the H4 chart, each time after updating the high, EUR/USD returns to 61.8% fibo. The divergence on MACD made the pair start a new decline with the closest target at 50.0% fibo (1.1595). After completing the correction, EURUSD may resume trading upwards to reach 76.0% fibo at 1.2095.
EURUSD_H4
The H1 chart shows a more detailed structure of the current correctional downtrend, which has already reached 23.6% fibo and may continue towards 38.2% and 50.0% fibo at 1.1662 and 1.1567 respectively. However, if the price breaks the high at 1.1966, the correction will be over and the uptrend may resume.
EURUSD_H1
USD/JPY
As we can see in the H4 chart, the asset is finishing the descending correction. It looks like the pair has formed a stable support area around the mid-term 61.8% fibo because the mid-term downtrend and the previous pullback were stopped right here. The next rising wave may be heading to break the high and re-test 38.2% fibo, and may later continue towards 50.0% and 61.8% fibo at 107.94 and 108.83 respectively. If the instrument breaks the fractal support at 104.18, the price may fall towards the long-term 76.0% fibo at 103.70.
USDJPY_H4
The H1 chart shows that after finishing the rising wave, the pair started a descending correction, which reached 61.8% fibo. After the convergence on MACD, the price has reached 38.2% fibo. In the future, the instrument may grow towards the high at 107.05.
USDJPY_H1

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.