GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is finishing the local ascending correction, which has reached the retracement of 38.2%. The next downside targets are the retracements of 50.0% and 61.8% at 1.3695 and 1.3543 respectively. The main resistance level is the high at 1.4345.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the downtrend continues; it has already reached the retracement of 61.8%. The next downside targets may be the retracement of 76.0% at 1.3882 and the local low at 1.3800.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
EURJPY, “Euro vs. Japanese Yen”
In the H4 chart, we can see that after the convergence EURJPY stared a new correction to the upside, which has already reached the retracement of 23.6% and may continue towards the retracements of 38.2% and 50.0% at 133.84 and 134.54 respectively. However, if the price breaks the low at 131.60, the instrument may start a new long-term downtrend to reach the retracement of 38.2% at 128.85.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, EURJPY is being corrected between the local low at 131.60 and the retracement of 23.6%.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department