rfxsignals December 25, 2019 No Comments

Fibonacci Retracements Analysis 25.12.2019 (GBPUSD, EURJPY)

25.12.2019

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, there was a divergence on MACD, which made the pair reverse downwards after reaching 61.8% fibo. By now, GBPUSD has almost reached the mid-term support at 1.2883. After completing the pullback, the instrument may start another rising wave towards 76.0% fibo at 1.3794.

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

The H1 chart shows the more detailed structure of the current descending correction. At the moment, the pair is getting close to 50.0% fibo at 1.2855 and may later reach 61.8% fibo at 1.2700. At the same time, there is convergence on MACD, which indicates a possible pullback after the price reaches one of its targets. The resistance is the high at 1.3514.

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

EURJPY, “Euro vs. Japanese Yen”

In the daily chart, there was a divergence on MACD, which made the pair reverse downwards after reaching 76.0% fibo. Right now, EURJPY is getting close to the local support, which is 61.8% fibo at 120.50. if later the price breaks it, the instrument will continue falling towards the low at 115.86.

EURJPY_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the H4 chart, the pair is correcting downwards after finishing the rising impulse. By now, it has almost reached 61.8% fibo at 121.00. The next downside target may be 76.0% fibo at 120.63. if the price breaks the fractal support at 119.99, the mid-term tendency may reverse. Otherwise, the instrument may break the resistance at 122.65 and continue the mid-term uptrend.

EURJPY_H4