Fibonacci Retracements Analysis 28.11.2017 (EUR/USD, USD/JPY)

EUR USD, “Euro vs US Dollar”

As we can see at the H4 chart, the EUR/USD pair has already been corrected to the upside by 76.0%. At the same time, we can see the divergence being formed, which may indicate a future reverse or a new correction downwards. The closest targets may be the retracements of 23.6% and 38.2% at 1.1865 and 1.1806 respectively. The target of the uptrend is the high at 1.2092.

At the H1 chart, after the divergence, the pair started a new correction, which has already reached the retracement of 23.6%. The next targets may be the retracements of 38.2%, 50.0%, and 61.8% at 1.1865, 1.1836, and 1.1806 respectively. Some short-term targets are the same as some mid-term ones.

USD JPY, “US Dollar vs. Japanese Yen”

As we can see at the H4 chart, the USD/JPY pair is still being corrected to the downside and has already reached the retracement of 50.0%. At the same time, we can see the divergence being formed, which may indicate a possible ascending correction towards the retracements of 23.6%, 38.2%, and 50.0% at 111.76, 112.32, and 112.78 respectively. The target of the current descending movement is the retracement of 61.8% at 110.15.

At the H1 chart, the situation is similar and confirms the scenario described above.

RoboForex Analytical Department