Fibonacci Retracements Analysis 23.11.2017 (AUD/USD, USD/CAD)
AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the AUD/USD pair is moving downwards and has already reached the retracement of 76.0%. The convergence may indicate a possible correction to the upside. The closest target are the retracements of 23.6%, 38.2%, and 50.0% at 0.7668, 0.7755, and 0.7825 respectively.
At the H1 chart, the pair is trading upwards to reach the target at 0.7668.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the price is about to complete the ascending impulse and start a new decline. The correction has already reached the retracement of 23.6%. The next targets are the retracements of 38.2% and 50.0% at 1.2590 and 1.2490 respectively.
At the H1 chart, the current downtrend is moving towards the low at 1.2667 and the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.2601 and 1.2561 respectively.
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.