Fibonacci Retracements Analysis 07.11.2019 (AUDUSD, USDCAD)

2019-11-08 21:02    RoboForex

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the divergence made the pair complete its growth at 38.2% fibo and start a new descending movement. After finishing the correction, the instrument may continue its ascending tendency to reach the current high at 0.6929 and then mid-term 50.0% fibo at 0.6983.

Fibonacci Retracements Analysis 07.11.2019 (AUDUSD, USDCAD) Institution Opinions 1
Fibonacci Retracements Analysis 07.11.2019 (AUDUSD, USDCAD) Institution Opinions 2

The H1 chart shows more detailed structure of the current correction. By now, the descending wave has already reached 23.6% fibo and may yet continue towards 38.2%, 50.0% and 61.8% fibo at 0.6829, 0.6800, and 0.6769 respectively.

Fibonacci Retracements Analysis 07.11.2019 (AUDUSD, USDCAD) Institution Opinions 3
Fibonacci Retracements Analysis 07.11.2019 (AUDUSD, USDCAD) Institution Opinions 4

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is forming a new ascending impulse after completing the correction at 50.0% fibo. If the pair breaks the high at 1.3208, the instrument may continue the bullish trend towards 61.8% and 76.0% fibo at 1.3230 and 1.3273 respectively.


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

In the H1 chart, the pair is getting close to the high at 1.3208.

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

AUDCADFibonacci Retracements

0 traders reviewed this item, please leave a reply!

About FXYEAH | Broker Listing | Contribute | Contact Us | Sitemap | TagCloud
Disclaimer: All contents of site are only for your reference, don't suggest you do any investment decision, you should be responsible for your decision.