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  2. Fibonacci Retracements Analysis
  3. Fibonacci Retracements Analysis 21.02.2018 (GBPUSD, EURJPY)

Fibonacci Retracements Analysis 21.02.2018 (GBPUSD, EURJPY)

21.02.2018

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is finishing the local ascending correction, which has reached the retracement of 38.2%. The next downside targets are the retracements of 50.0% and 61.8% at 1.3695 and 1.3543 respectively. The main resistance level is the high at 1.4345.

GBPUSD1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, the downtrend continues; it has already reached the retracement of 61.8%. The next downside targets may be the retracement of 76.0% at 1.3882 and the local low at 1.3800.

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, we can see that after the convergence EURJPY stared a new correction to the upside, which has already reached the retracement of 23.6% and may continue towards the retracements of 38.2% and 50.0% at 133.84 and 134.54 respectively. However, if the price breaks the low at 131.60, the instrument may start a new long-term downtrend to reach the retracement of 38.2% at 128.85.

EURJPY1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, EURJPY is being corrected between the local low at 131.60 and the retracement of 23.6%.

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

 

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