Fibonacci Retracements Analysis 09.11.2017 (AUD/USD, USD/CAD)

AUD USD, “Australian Dollar vs US Dollar”

At the H4 chart, the AUD/USD pair is still being corrected to the upside and has already reached the retracement of 38.2%. The next target of this correction is the retracement of 50.0% at 0.7754. After finishing the correction, the instrument may break the local low at 0.7625 and then fall towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7585 and 0.7559 respectively.

At the H1 chart, the situation is quite similar. After completing the current ascending correction, the pair may start forming a new descending impulse to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7603 and 0.7588 respectively.

USD CAD, “US Dollar vs Canadian Dollar”

As we can see at the H4 chart, the price has been corrected to the downside by 38.2%. The next downside targets may be the retracements of 50.0% and 61.8% at 1.2684 and 1.2630 respectively. After finishing the descending correction, the instrument may resume growing. Possible targets are inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3023 and 1.3092 respectively.

At the H1 chart, the situation is quite similar.

RoboForex Analytical Department