EURUSD and USDJPY: Fibo Analysis, 26/03/2019
EURUSD
On H4, the EURUSD reached 38.20% Fibo after a midterm downtrend. Another falling tide is now forming, with the target at the low of 1.1176. If this one is reached, the price will head to the range between 138.20% and 161.80%, or 1.1072 to 1.1008. The resistance is meanwhile at the 1.1448 high.
On H1, the EURUSD is correcting after a heavy downtrend that reached 61.80% Fibo. The next target lies at 76% (1.1241), or the major low.
USDJPY
On H4, the USDJPY is forming a downtrend after divergence. The targets lie at 38.20%, and 50% Fibo, or 109.22, and 108.33, respectively. The high at 112.13 acts as a resistance.
On H1, the USDJPY is correcting after converging. The downtrend reached 23.60% Fibo and may continue to reach 38.20% (110.54) and 50% (110.80). The low at $109.71 acts as a support.
EURUSD
On H4, the EURUSD reached 38.20% Fibo after a midterm downtrend. A new fall is occurring, with the immediate target at 1.1176. If this one is reached, the price will head to the range between 138.20% and 161.80%, or 1.1072 to 1.1008. The resistance is meanwhile at the 1.1448 high.
On H1, the EURUSD is correcting after a heavy downtrend that reached 61.80% Fibo. The next target lies at 76% (1.1241), or the major low.
USDJPY
On H4, the USDJPY is forming a downtrend after divergence. The targets lie at 38.20%, and 50% Fibo, or 109.22, and 108.33, respectively. The high at 112.13 acts as a resistance.
On H1, the USDJPY is correcting after converging. The downtrend reached 23.60% Fibo and may continue to reach 38.20% (110.54) and 50% (110.80). The low at $109.71 acts as a support.
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