Fibonacci Retracements Analysis 12.04.2018 (AUDUSD, USDCAD)

April 12, 2018

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, the convergence made AUDUSD finish the downtrend, reverse, and start a new rising correction, which has already reached the retracement of 23.6%. The next upside targets may be the retracements of 38.2%, 50.0%, and 61.8% at 0.7831, 0.7889, and 0.7946 respectively. The support level is the short-term low at 0.7642.

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

As we can see in the H1 chart, the pair is trading sideways near the retracement of 23.6%. The closest upside target may be at 0.7831.


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AUDUSD2
Risk Warning: the result 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, the downtrend has reached the retracement of 61.8%. The next downside target may be the retracement of 76.0% at 1.2459. The short-term resistance is at 1.2917.

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

In the H1 chart, the convergence is being formed< which may indicate a possible correctional uptrend. The first ascending impulse has already reached the retracement of 23.6%. The next targets may be the retracements of 38.2%, 50.0%, and 61.8% at 1.2649, 1.2681, and 1.2714 respectively.

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

 

RoboForex Analytical Department

Article By RoboForex.com

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