Fibonacci Retracements Analysis 21.11.2017 (EUR/USD, USD/JPY)

EUR USD, “Euro vs US Dollar”

As we can see at the H4 chart, the EUR/USD pair is still being corrected to the upside and has already reached the retracement of 50.0%. The current short-term decline may be considered as a slight correction. The next targets may be the retracements of 61.8% and 76.0% at 1.1884 and 1.1960 respectively. However, if the downtrend continues, the target may be the retracement of 38.2% at 1.1510, but only after the pair breaks the local low at 1.1554.

At the H1 chart, the pair is being corrected to the downside and has already reached the retracement of 38.2%. The next targets may be the retracements of 50.0% and 61.8% at 1.1707 and 1.1671 respectively. After completing the correction, the instrument may start a new ascending impulse.

USD JPY, “US Dollar vs. Japanese Yen”

As we can see at the H4 chart, the USD/JPY pair has started a new correction to the downside, which has already reached the retracement of 38.2%. The next downside target is the retracement of 50.0% at 111.03.  

At the H1 chart, after the convergence, the pair started a new ascending correction, which has already reached the retracement of 38.2%. The next possible targets are the retracement of 50.0%, 61.8%, and 76.0% at 112.90, 113.14, and 113.42 respectively.

RoboForex Analytical Department