Forex Technical Analysis & Forecasts |
| Fibonacci Retracements Analysis 07.12.2021 EURUSD, USDJPY Posted: 07 Dec 2021 12:45 AM PST EURUSD, Euro vs US DollarAs we can see in the H4 chart, there is a local consolidation within the correctional uptrend; the correctional wave has reached 38.2 fibo after convergence on MACD. The current technical picture implies a new rising impulse after the consolidation towards 50.0 and 61.8 fibo at 1.1439 and 1.1500 respectively. On the other hand, a breakout of the local low at 1.1186 may result in a further downtrend towards the midterm 76.0 fibo at 1.1047. The key resistance is at 1.1692.The H1 chart shows a more detailed structure of the current consolidation range after the rising wave. This consolidation is the markets response to a quick and volatile correctional impulse to the downside after local divergence on MACD, which almost immediately reached 76.0 fibo at 1.1233. At the moment, the asset is trading at 50.0 fibo, while the next rising impulse may be heading to break the high at 1.1383.USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, USDJPY is forming a slight pullback after completing the descending wave at 23.6 fibo at 112.47. The next downside targets are 38.2 and 50.0 fibo at 110.58 and 109.06 respectively. The resistance is the high at 115.52.The H1 chart shows a more detailed structure of the current consolidation range after the correction. The correctional uptrend has already reached 38.2 fibo and may later continue towards 50.0 and 61.8 fibo at 114.02 and 114.37 respectively. A breakout of the low at 112.53 will lead to a further... |
| Forex Technical Analysis Forecast 07.12.2021 Posted: 06 Dec 2021 11:39 PM PST EURUSD, Euro vs US DollarEURUSD is forming a narrow consolidation range around 1.1286. Possibly, the pair may form a new descending structure to break 1.1263. Later, the market may continue trading downwards with the target at 1.1234 or even reach 1.1150.GBPUSD, Great Britain Pound vs US DollarGBPUSD is correcting towards 1.3293. Later, the market may resume trading downwards to reach 1.3175 and then start a new growth with the target at 1.3255.USDRUB, US Dollar vs Russian RubleUSDRUB has completed the correction at 74.14. Today, the pair may resume trading downwards to reach 73.13. After that, the instrument may correct to test 74.14 from below and then form a new descending structure with the first target at 72.47.USDJPY, US Dollar vs Japanese YenUSDJPY is growing towards 113.72 and may later correct to reach 113.13. After that, the instrument may form one more ascending structure towards 114.30 or even reach the target at 114.90.USDCHF, US Dollar vs Swiss FrancUSDCHF has finished the ascending structure at 0.9266; right now, it is correcting towards 0.9220. After that, the instrument may form one more ascending structure to break 0.9280 and then continue trading upwards with the target at 0.9343.AUDUSD, Australian Dollar vs US DollarAUDUSD continues growing towards 0.7083. Later, the market may resume trading downwards with the target at 0.7037.BRENTBrent is growing towards 76.70. Later, the market may start a new correction to reach 73.10 and then resume trading... |
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