Sign In
  2. Fibonacci Retracements Analysis
  3. Fibonacci Retracements Analysis 07.03.2018 (GBPUSD, EURJPY)

Fibonacci Retracements Analysis 07.03.2018 (GBPUSD, EURJPY)

07.03.2018

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the convergence made GBPUSD reverse and start a new ascending impulse, which has already reached the retracement of 61.8%. The targets of the short-term uptrend are the retracements of 38.2% and 50.0% at 1.3953 and 1.4029 respectively. Whoever, the price may yet continue falling towards the retracement of 76.0% at 1.3672, but only after finishing the ascending impulse.

GBPUSD1Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, the pair is steadily growing towards its targets.

GBPUSD2Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

EURJPY, “Euro vs. Japanese Yen”

In the H4 chart, the convergence made EURJPY reverse and start a new rising correction, which has already reached the retracement of 23.6% and may continue trading towards the retracements of 38.2% and 50.0% at 132.45 and 133.40 respectively.

EURJPY1
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.

EURJPY2Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

 

RoboForex Analytical Department

 

Trading analysis & analytics
Attention!

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.

The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.