03.10.2019

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, the descending wave tested the mid-term low at 0.6677 and then there was a convergence, which may indicate a new pullback in the nearest future. After the pullback, the price may continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 0.6595 and 0.6543 respectively.

Taking into account the convergence on MACD in the H1 chart, we may assume that AUDUSD may correct towards 23.6%, 38.2%, and 50.0% fibo at 0.6724, 0.6757, and 0.6782 respectively.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after failing to reach 50.0% fibo at 1.3201, USDCAD started a new rising impulse, which has already broken the local high and may reach the high at 1.3328. After breaking it, the instrument may continue the ascending tendency towards 76.0% fibo at 1.3433.

In the H1 chart, after finishing the ascending impulse, the pair is correcting. The target may be 23.6%, 38.2%, and 50.0%, fibo at 1.3305, 1.3286, and 1.3271 respectively. After breaking the resistance at 1.3335, the price may continue growing.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has almost reached a very significant correctional level, 61.8% fibo at 1.2197. If the pair is able to reach the next short-term correctional level, 76.0% fibo at 1.2108, it may try to test the low at 1.1958 and once again enter the post-correctional extension area between 138.2% and 161.8% fibo at 1.2019 and 1.1788 respectively. However, in case of a new rising impulse, the targets will be the high at 1.2582 and then 61.8% fibo at 1.2710.

In the H1 chart, the convergence made the pair start a new correction. The rising impulse tried to reach 38.2% fibo at 1.2349, but was forced to pull back. The next rising impulse may reach the above-mentioned level and then continue growing towards 50.0%, 61.8%, and 76.0% fibo 1.2393, 1.2437, and 1.2491 respectively. The key support is the low at 1.2205.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, after slowing down its decline at 61.8% fibo, EURJPY has formed a triangle consolidation range, which means that the pair is about to start a new rising wave. The key upside target may be the high at 120.01 and 61.8% fibo at 120.50. However, one shouldn’t exclude a possibility of further decline towards 76.0% fibo at 116.86 in the short-term. In this case, the instrument may later fall to reach the low at 115.86 or even deeper.

In the H1 chart, the price started a new short-term correction, which has already reached 38.2% fibo. The next correctional wave may be heading towards 50.0%, 61.8%, and 76.0% fibo at 118.72, 119.02, and 119.39 respectively.