Forex Technical Analysis & Forecasts |
| Fibonacci Retracements Analysis 03.12.2021 AUDUSD, USDCAD Posted: 03 Dec 2021 12:36 AM PST AUDUSD, Australian Dollar vs US DollarAs we can see in the H4 chart, after breaking the low at 0.7106, AUDUSD is retesting the longterm 38.2 fibo at 0.7052. The resistance is the local high at 0.7556. Convergence on MACD indicates a possible pullback soon.In the H1 chart, the pair may start a new correction after reaching 38.2 fibo at 0.7052 and convergence on MACD. The upside correctional targets may be 23.6, 38.2, and 50.0 fibo at 0.7172, 0.7244, and 0.7304 respectively.USDCAD, US Dollar vs Canadian DollarAs we can see in the H4 chart, after breaking 76.0 fibo, the midterm rising wave in USDCAD continues moving towards the high at 1.2949. Moreover, a breakout of the high will lead to a further uptrend to reach the longterm 38.2 fibo at 1.3022. The support is the low at 1.2288. Divergence on MACD hints at a possible correction soon.The H1 chart shows the potential correctional targets after divergence on MACD 23.6, 38.2, and 50.0 fibo at 1.2707, 1.2627, and 1.2563 respectively. A breakout of the local resistance at 1.2837 will result in a further uptrend. |
| Forex Technical Analysis Forecast 03.12.2021 Posted: 02 Dec 2021 11:33 PM PST EURUSD, Euro vs US DollarAfter completing the descending structure at 1.1300, EURUSD is consolidating around this level. Possibly, the pair may break this range to the downside and form a new descending structure to break 1.1235. Later, the market may continue trading downwards with the target at 1.1115.GBPUSD, Great Britain Pound vs US DollarAfter finishing the descending structure at 1.3259, GBPUSD is consolidating above this level. Today, the pair may break the range to the downside and start a new decline towards 1.3170. Later, the market may form one more ascending structure with the target at 1.3400.USDRUB, US Dollar vs Russian RubleUSDRUB continues trading downwards to reach 73.22. 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 113.71 and may later start a new correction to reach 113.30. After that, the instrument may form one more ascending structure to break 113.71 and then continue trading within the uptrend with the shortterm target at 114.86.USDCHF, US Dollar vs Swiss FrancUSDCHF is consolidating around 0.9198. Possibly, today the pair may form one more ascending structure to break 0.9265 and then continue trading upwards with the target at 0.9333.AUDUSD, Australian Dollar vs US DollarAUDUSD has finished the descending wave at 0.7062; right now, it is growing to reach 0.7118. Later, the market may resume trading... |
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