Forex Technical Analysis & Forecasts

Forex Technical Analysis & Forecasts

Fibonacci Retracements Analysis 17.11.2021 GBPUSD, EURJPY

Posted: 16 Nov 2021 03:06 PM PST

GBPUSD, Great Britain Pound vs US DollarAs we can see in the H4 chart, after updating the low, GBPUSD is heading towards the longterm 38.2 fibo at 1.3166; right now, the pair is forming a shortterm pullback. However, convergence on MACD indicates that a proper correction may start after the price reaches the abovementioned level. In this case, the correctional targets may be 23.6, 38.2, and 50.0 fibo at 1.3325, 1.3422, and 1.3500 respectively. The resistance is at 1.3834.The H1 chart shows the start of a new correctional uptrend after convergence on MACD, which has already reached 23.6 fibo and may later continue towards 38.2 and 50.0 fibo at 1.3530 and 1.3584 respectively. A breakout of the local low at 1.3353 may lead to a further downtrend.EURJPY, Euro vs. Japanese YenAs we can see in the daily chart, the previous rising impulse has failed to test the high at 134.12. At the moment, the pair is falling and this decline may be both a pullback and a new descending wave towards 50.0 and 61.8 fibo at 127.87 and 126.40 respectively.In the H1 chart, EURJPY has reached 76.0 fibo. The chart also shows convergence on MACD, which may hint at a reversal to the upside and a new growth towards the resistance at 133.47 and the high at 134.12. On the other hand, if the price falls and reaches the low at 128.33, it may continue falling towards the longterm 50.0 fibo at 127.87.

Forex Technical Analysis Forecast 17.11.2021

Posted: 17 Nov 2021 01:57 AM PST

EURUSD, Euro vs US DollarAfter completing the descending wave at 1.1263, EURUSD is correcting to test 1.1300 from below. Later, the market may resume falling to break 1.1250 and then continue trading within the downtrend with the target at 1.1174.GBPUSD, Great Britain Pound vs US DollarGBPUSD is still consolidating around 1.3434. Possibly, the pair may break this range downwards and reach 1.3290. After that, the instrument may start a new growth to reach 1.3380 and then resume falling with the target at 1.3163.USDRUB, US Dollar vs Russian RubleAfter forming a new consolidation range around 72.37 and breaking it to the upside, USDRUB is expected to continue the correctional wave towards 73.73. Later, the market may form a new descending structure to return to 72.37 and then resume trading upwards with the shortterm target at 74.20.USDJPY, US Dollar vs Japanese YenAfter breaking 114.68 to the upside, USDJPY is expected to continue growing towards 115.22. Later, the market may correct to reach 114.00 and then form one more ascending structure towards with the target at 115.55.USDCHF, US Dollar vs Swiss FrancAfter rebounding from 0.9259, USDCHF is still growing towards 0.9340. Later, the market may start a new correction to reach 0.9260 and then resume trading upwards with the target at 0.9400.AUDUSD, Australian Dollar vs US DollarAUDUSD has finished another descending structure at 0.7262. Today, the pair may correct to test 0.7300 from below and then resume trading downwards...
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