Fibonacci Retracements Analysis 15.05.2019 (GBPUSD, EURJPY)

2019-05-15 15:01    RoboForex

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after finishing the correctional uptrend, GBPUSD is forming a new descending wave to break the low at 1.2865. After that, the instrument may continue falling to reach the retracement of 61.8% at 1.2774 and then the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2746 and 1.2673 respectively. The resistance level is the local high 1.3176.

Fibonacci Retracements Analysis 15.05.2019 (GBPUSD, EURJPY) Institution Opinions 1
Fibonacci Retracements Analysis 15.05.2019 (GBPUSD, EURJPY) Institution Opinions 2

In the H1 chart, the pair is trading to reach the low at 1.2865. At the same time, there is a convergence on MACD, which may indicate a new pullback. The possible correctional targets may be the retracements of 23.6%, 38.2%, and 50.0% at 1.2940, 1.2984, and 1.3020 respectively.

Fibonacci Retracements Analysis 15.05.2019 (GBPUSD, EURJPY) Institution Opinions 3
Fibonacci Retracements Analysis 15.05.2019 (GBPUSD, EURJPY) Institution Opinions 4

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, EURJPY is still trading downwards and has already reached the retracement of 50.0%. The next target may be the retracement of 61.8% at 121.61. At the same time, there is a convergence on MACD, which may indicate a possible pullback. The resistance level is the retracement of 23.6% at 125.25.


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

In the H1 chart, the convergence made the pair start a new sideways movement, which has already reached the retracement of 23.6%. The next targets of this pullback may be the retracements of 38.2% and 50.0% at 124.13 and 124.64 respectively.

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

EURJPYGBP

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