Fibonacci Retracements Analysis 01.05.2019 (GBPUSD, EURJPY)

May 1, 2019

Article By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the convergence made GBPUSD start a new correctional uptrend, which has already reached the retracement of 38.2%. The next upside targets may be the retracements of 50.0% and 61.8% at 1.3088 and 1.3141 respectively. If the price breaks the low at 1.2865, the instrument may continue falling towards the long-term retracement of 61.8% at 1.2773.

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

In the H1 chart, the price has reached the retracements of 38.2% and may start a new short-term pullback.


Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.




Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter






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 failing to reach the high at 127.50, EURJPY has resumed its mid-term descending correction. If the price breaks the low at 124.09, the instrument may continue trading downwards to reach the retracement of 50.0% at 122.7. The resistance is the high at 126.81.

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

In the H1 chart, the pair is being corrected upwards; it has already reached the retracement of 38.2%. The next targets may be the retracements of 50.0% and 61.8% at 125.45 and 125.77 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.