Fibonacci Retracements Analysis 27.02.2019 (GBPUSD, EURJPY)

February 27, 2019

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has updated the previous high and may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3385 and 1.3488 respectively. In the short-term, the instrument may be corrected to reach the local support level at 1.3216.

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

In the H1 chart, there is a divergence on MACD, which may indicate a new correctional downtrend. The possible targets may be the retracements of 23.6% and 38.2% at 1.3167 and 1.3090 respectively. However, this decline won’t last long and later the instrument may start a new rising wave.


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GBPUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, EURJPY is still trading upwards; the price is trying to fix above the retracement of 50.0% and reach the one of 61.8% at 127.34. The current support is at 123.76.

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

In the H1 chart, the divergence made the instrument start falling. It has already reached the retracement of 23.6%. The next possible targets are the retracements of 38.2% and 50.0% at 125.50 and 125.27 respectively. However, if the price breaks the high at 126.30, the pair will continue growing.

EURJPY2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.