rfxsignals November 13, 2019 No Comments
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13.11.2019

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the descending correction continues after reaching at 76.0% fibo at 1.3040 and the divergence on MACD. The support is at 1.2670. After completing the pullback, the instrument may start another rising impulse to break the previous high at 1.3012 and then reach the key one at 1.3381.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, after retesting 23.6% fibo, the pair was forced by the convergence to finish the previous descending wave and start moving upwards. It doesn’t necessarily mean that the price will continue growing to reach 1.3012, that’s why one should expect further decline with the possible targets at 38.2%, 50.0%, and 61.8% fibo at 1.2699, 1.2604, and 1.2508 respectively.

GBPUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, after reaching 76.0% fibo at 121.55, the pair is correcting downwards to reach the local support at 38.2% fibo at 118.73. However, if EURJPY breaks the high at 121.47, the price may continue growing with the key target at 123.36.

EURJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is getting closer to 38.2% fibo at 119.79. at the same time, there is s convergence on MACD, which may indicate either a reverse or a short-term pullback. Further decline may be heading towards 50.0% and 61.8% fibo at 119.27 and 118.75 respectively.

EURJPY_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future