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  2. Fibonacci Retracements Analysis
  3. Fibonacci Retracements Analysis 01.03.2018 (AUDUSD, USDCAD)

Fibonacci Retracements Analysis 01.03.2018 (AUDUSD, USDCAD)

01.03.2018

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has broken the previous low and right now is trading towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7670 and 0.7617 respectively. The resistance level is at 0.7988.

AUDUSD1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, AUDUSD is steadily trading downwards to reach the short-term target at 0.7670. In addition to that, we can see the convergence, which may indicate that instrument may reverse after reaching its downside target area.

AUDUSD2Risk 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, after breaking the previous high, USDCAD has reached the post-correctional extension area between the retracements of 138.2% and 161.8%. The next upside target may be the retracement of 261.8% at 1.2989. The support level is at 1.2756.

USDCAD1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, the pair has reached its upside target area. In the short-term, the instrument may start a new pullback towards the retracements of 23.6%, 38.2%, and 50.0% at 1.2793, 1.2756, and 1.2731 respectively.

USDCAD2
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.

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