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  2. Fibonacci Retracements Analysis
  3. Fibonacci Retracements Analysis 06.02.2018 (EURUSD, USDJPY)

Fibonacci Retracements Analysis 06.02.2018 (EURUSD, USDJPY)

06.02.2018

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, EURUSD is being corrected to the downside and has already reached the retracement of 23.6%. The next downside targets are the retracements of 38.2% and 50.0% at 1.2224 and 1.2128 respectively. The main resistance level is the high at 1.2537.

EURUSD1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, the pair is being corrected upwards after completing the descending impulse.  The targets of this correction may be the retracements of 50.0% and 61.8% at 1.2437 and 1.2457 respectively.

EURUSD2
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY has been corrected upwards by 38.2% after finishing the downtrend. The correction may yet continue to reach the retracements of 50.0% and 61.8% at 110.84 and 111.42 respectively. After breaking the low at 108.28, the instrument may fall towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 107.43 and 106.93 respectively.

USDJPY1
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, the price has completed the descending impulse and right now is trading to the upside. Such situation implies that the correction is quite complicated and may continue.

USDJPY2
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

RoboForex Analytical Department

 

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