Fibonacci Retracements Analysis 01.02.2018 (AUD/USD, USD/CAD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, the divergence made the pair start a new correction to the downside. The targets of this downtrend may be the retracements of 23.6%, 38.2%, and 50.0% at 0.7985, 0.7895, and 0.7818 respectively. The resistance level is the high at 0.8135.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
As we can see in the H1 chart, AUD/USD is starting a new descending correction. The closest targets are the retracements of 23.6% and 38.2% at 0.7985 and 0.7895 respectively.
Risk Warning: the results 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, the downtrend has reached the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2262 and 1.2206 respectively. At the same time, we can see the convergence being formed, which may indicate a possible correction. The targets of this correction may be the retracements of 23.6%, 38.2%, 50.0%, and 61.8% at 1.2408, 1.2505, 1.2584, and 1.2665 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the situation is similar and confirms the scenario described above.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
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