EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, after updating the high, EURUSD has almost reached 61.8% fibo at 1.1208. Right now, the pair is correcting to the downside and may later continue the rising wave towards 61.8% and 76.0% fibo at 1.1208 and 1.1284 respectively.
In the H1 chart, the pair is correcting and has already reached 50.0% fibo. In the nearest future, the price may continue this decline towards 61.8% at 1.1101. After the pullback, the price may start a new growth. In the pair breaks the high at 1.1200, the instrument may grow to reach the post-correctional extension area between 138.2 and 161.8% fibo at 1.1255 and 1.1300 respectively.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the first descending wave slowed down the current correctional downtrend at 23.6% fibo, rebounded from it, and then returned to the high at 109.73. If the price breaks the high, the instrument may continue growing to reach 76.0% fibo at 110.49. Otherwise, USDJPY may continue its decline towards 38.2%, 50.0%, and 61.8% fibo at 107.71, 107.09, and 106.47 respectively.
In the H1 chart, the pair is testing the high at 109.73. If the price breaks it, the instrument may continue trading towards the post-correctional extension area between 138.2 and 161.8% fibo at 110.23 and 110.54 respectively.
