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Fibonacci Retracements Analysis 13.08.2019 (EURUSD, USDJPY)

13 august 2019 - Fx4News

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the convergence made EURUSD start a new rising impulse, which stopped after reaching 23.6% fibo. Right now, the pair is consolidating before resuming its growth. The next upside targets may be 38.2%, 50.0%, and 61.8% fibo at 1.1327, 1.1422, and 1.1514 respectively. The support is the low at 1.1027.

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is trading sideways. EURUSD has already reached 38.2% fibo and may continue moving towards 50.0% and 61.8% fibo at 1.1139 and 1.1112 respectively. If the pair breaks the high at 1.1250, it may continue trading upwards.

EURUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the daily chart, the pair is steadily trading towards the long-term fractal low at 104.51. It should be noted that the price has reached the post-correctional extension area between 138.2% and 161.8% fibo. At the same time, there is a convergence on MACD, which may indicate a possible pullback. The resistance is at 107.52.

USDJPY_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H4 chart, there is a local convergence on MACD. If the price starts a new rising correction in the nearest future, it may trade towards 23.6%, 38.2%, and 50.0% fibo at 106.06, 106.69, and 107.19 respectively. The support is the low at 105.05.

USDJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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