Forex Technical Analysis & Forecasts

Forex Technical Analysis & Forecasts

Fibonacci Retracement Analysis 12.11.2021 AUDUSD, USDCAD

Posted: 11 Nov 2021 03:33 PM PST

AUDUSD, Australian Dollar vs US DollarOn H4, a phase of correctional growth stopped above 50.0, failing just a bit to reach 61.8 0.7591 Fibo. Now a new wave of decline is aiming at the last low of 0.7106. After a breakaway, the quotations can head for the mediumterm level of 38.2 0.7052.On H1, a wave of decline is testing 61.8 and can go over it to 76.0 0.7215 Fibo. With such a technical picture, note a convergence forming on the MACD, which might indicate a shortterm pullback after the target level is reached. The main resistance is at the high of 0.7556.USDCAD, US Dollar vs Canadian DollarOn D1, there is another wave of the bullish phase after a correctional decline. The aims of the new wave will be 38.2 1.3022, 50.0 1.3336, and 61.8 1.3650 Fibo. Support is at the low of 1.2007.On H4, the upward movement can be seen in more detail after a convergence on the MACD. By now, the quotations have come over 38.2 Fibo and are nearing 50.0 1.2618. Leaving these levels behind, the pair can reach 61.8 1.2696 and 76.0 1.2791, while the high of 1.2949 can act as the main resistance level. Local support is at the low of 1.2288.

Forex Technical Analysis Forecast 12.11.2021

Posted: 12 Nov 2021 02:06 AM PST

EURUSD, Euro vs US DollarThe currency pair performed a wave of decline to 1.1440. At a moment, the market is trading in a narrow consolidation range around this level. Today we expect a decline to 1.1428. After this level is reached, there is expected a link of correction to 1.1452 a test from below, followerd by a decline to 1.1404.GBPUSD, Great Britain Pound vs US DollarThe currency pair created a consolidation range around 1.3390, and today it is aiming at a breakaway of the lower border of the range. Today, the pair can decline to 1.3308. Then a link of correction to 1.3360, a decline to 1.3288, and possibly the continuation of the trend to 1.3246 should follow.USDRUB, US Dollar vs Russian RubleThe currency pair broke through 71.00 and can continue correcting to 71.59. After this level is reached, the link of correction can develop to 71.00. At these levels, a consolidation range can form. With an escape upwards, a pathway to 72.70 will open, with an escape downwards a pathway to 69.00.USDJPY, US Dollar vs Japanese YenThe currency pair broke through 113.97 and performed a wave of growth to 114.22. Today we expect a decline to 113.97 a test from above. If the pair escapes the range upwards, a pathway to 115.22 will open. If it escapes it downwards, the pair can correct to 112.80.USDCHF, US Dollar vs Swiss FrancThe currency pair keeps developing a wave of growth to 0.9235. After this level is reached, the pair can correct to 0.9170, followed by growth to 0.9240. With a...
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