EURUSD, “Euro vs US Dollar”
On H4, the market is forming another wave of growth after a correction. The quotations are approaching 61.8% (1.2198), upon reaching which they will head for 76.0% (1.2254). Such growth might be followed by a short-term pullback. The main goal of growth is still 1.2350, which is the high. The main support is at the low of 1.1952.
On H1, EURUSD is again testing the correctional level of 50.0% Fibo and renewing the local high. Growth remains in priority, while a correction can take the quotations back to the local support at 38.2% (1.2104). The potential pullback is indicated by a divergence.
USDJPY, “US Dollar vs Japanese Yen”
The H4 of the pair shows medium-term moods of the market. Here we can see the uptrend reach 38.2% Fibo. The growth and a divergence are followed by a correctional decline. When the pullback is over, and the pair overcomes the high of 106.22, we expect a new wave of growth to 50.5% (107.15).
On H1, there is a correctional decline after a convergence on the oscillator. The correctional decline neared 38.2% (104.84) and might continue to 50.0% Fibo (104.40). In the short term, a breakaway of the local high of 106.22 in the short term will signal the end of the correction and open the way to the post-correctional extension range of 138.2-161.8% (106.72-107.02).
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.