Fibonacci Retracements Analysis 06.03.2019 (GBPUSD, EURJPY)

March 6, 2019

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is being corrected downwards to reach retracement of 50.0% at 1.3060. After completing the correction, the price may start a new rising impulse towards the high at 1.3350. If the pair breaks t, the instrument may continue growing to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3384 and 1.3489 respectively.

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

The H1 chart shows more detailed structure of the current decline towards the retracement of 50.0% at 1.3060. At the same time, there is a convergence on MACD, which may indicate a new correctional uptrend.


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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, after reaching the retracement of 61.8%, EURJPY is trading downwards. The downside target may be the retracement of 50.0% at 125.54. After finishing the correction, the price may resume growing to reach the retracement of 76.0% at 129.49. The resistance level is the high at 127.50.

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

In the H1 chart, the downtrend has reached the retracement of 38.2%. The next possible targets are the retracements of 50.0% and 61.8% at 125.87 and 125.48 respectively.

EURJPY2

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.