Forex Technical Analysis & Forecasts

Forex Technical Analysis & Forecasts

Fibonacci Retracements Analysis 16.11.2021 EURUSD, USDJPY

Posted: 15 Nov 2021 03:09 PM PST

EURUSD, Euro vs US DollarThe daily chart of EURUSD shows that the bearish phase is escalating. After testing and breaking 50.0 fibo, the asset is heading towards 61.8 fibo at 1.1292, a breakout of which may lead to a further downtrend to reach 76.0 fibo at 1.1050. At the same time, local convergence on MACD indicates a possible pullback or even a reversal.The H1 chart shows convergence on MACD, which may hint at a possible pullback after the pair reaches 61.8 fibo at 1.1292. If it happens, the asset may grow and reach 23.6, 38.2, and 50.0 fibo at 1.1387, 1.1445, and 1.1491 respectively. A breakout of the fractal high at 1.1692 will result in a further uptrend towards the longterm high.USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, after failing to reach 38.2 fibo at 112.56 after divergence on MACD, USDJPY has formed a new rising wave heading towards the high at 114.70, a breakout of which may result in a further uptrend to reach the postcorrectional extension area between 138.2 and 161.8 fibo at 115.45 and 115.92 respectively. However, the pair may rebound from the high and resume falling towards 38.2 and 50.0 fibo at 112.56 and 111.91 respectively. The key support is the low at 109.11.The H1 chart shows the second test of 76.0 fibo before another attempt to reach the high at 114.70. The local support is at 112.73.

Forex Technical Analysis Forecast 16.11.2021

Posted: 16 Nov 2021 02:48 AM PST

EURUSD, Euro vs US DollarAfter completing the descending wave at 1.1355, EURUSD is consolidating above this level. Today, the pair may grow towards 1.1390. Later, the market may resume trading within the downtrend with the target at 1.1318.GBPUSD, Great Britain Pound vs US DollarAfter finishing the correction at 1.3450 along with the descending wave towards 1.3400, GBPUSD is expected to break this range to the downside and resume falling to reach 1.3358. Later, the market may correct to test 1.3400 from below and then resume falling with the target at 1.3290.USDRUB, US Dollar vs Russian RubleUSDRUB is consolidating around 72.35. Possibly, the pair may break the range downwards and form a new descending structure towards 71.00. Later, the market may resume trading upwards with the target at 72.00.USDJPY, US Dollar vs Japanese YenUSDJPY is still consolidating around 114.00; it has already reached the upside border at 114.30 and may later fall to return to 114.00. If the price grows and breaks this range to the upside at 114.30, the market may form one more ascending structure towards 114.88 or even reach the target at 115.22.USDCHF, US Dollar vs Swiss FrancAfter completing the ascending wave at 0.9255, USDCHF is consolidating below this level. Possibly, today the pair may expand the range up to 0.9266 and then start a new correction with the target at 0.9175.AUDUSD, Australian Dollar vs US DollarAUDUSD is forming another descending structure towards 0.7300. After that, the...
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