Fibonacci Retracements Analysis 06.11.2019 (GBPUSD, EURJPY)

2019-11-08 21:02    RoboForex

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, there was a divergence on MACD, which made GBPUSD complete the rising wave at 76.0% fibo at 1.3040 and start a new pullback. The support is at 1.2670. After completing the pullback, the instrument may start another rising impulse to reach the previous high at 1.3012 and then the key one at 1.3381.

Fibonacci Retracements Analysis 06.11.2019 (GBPUSD, EURJPY) Institution Opinions 1
Fibonacci Retracements Analysis 06.11.2019 (GBPUSD, EURJPY) Institution Opinions 2

The H1 chart shows more detailed structure of the current descending correction. The pair has already reached 23.6% fibo, but may yet continue falling towards 38.2%, 50.0%, and 61.8% fibo at 1.2699, 1.2604, and 1.2507 respectively.

Fibonacci Retracements Analysis 06.11.2019 (GBPUSD, EURJPY) Institution Opinions 3
Fibonacci Retracements Analysis 06.11.2019 (GBPUSD, EURJPY) Institution Opinions 4

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, after reaching 76.0% fibo at 121.55, EURJPY has started a new sideways movement. If the price breaks the resistance at 121.47, the pair may resume growing. The key target is the high at 123.36.


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

In the H1 chart, the pair has reached 23.6% fibo. In the future, the instrument may continue falling towards 38.2%, 50.0%, and 61.8% fibo at 119.79, 119.27, and 118.75 respectively.

EURJPY_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPYGBPFibonacci Retracements

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