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Fibonacci Retracements Analysis 06.12.2017 (GBP/USD, EUR/JPY)

Article By RoboForex.com

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair is being corrected to the downside and has already reached the retracement of 38.2%. The closest downside targets are the retracements of 50.0% and 61.8% at 1.3305 and 1.3249 respectively. However, if we’re talking about a further growth, the targets will be near the short- and long-term highs at 1.3549 and 1.3657 respectively.

GBPUSD1

At the H1 chart, the situation is similar and confirms the scenario described above. The main trend is bearish.

GBPUSD2

 

EUR JPY, “Euro vs. Japanese Yen”

As we can see at the H4 chart, the EUR/JPY pair is getting closer to the retracement of 76.0% at 132.36. Later, the price may rebound from this level and start a new correction to the upside with the targets at the retracements of 23.6%, 38.2%, 50.0%, 61.8%, and 76.0% at 132.87, 133.13, 133.36, 133.60, and 133.88 respectively.

EURUSD1

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

EURJPY2

 

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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