Forex Technical Analysis & Forecasts

Forex Technical Analysis & Forecasts

Fibonacci Retracements Analysis 11.02.2022 AUDUSD, USDCAD

Posted: 11 Feb 2022 12:36 AM PST

AUDUSD, Australian Dollar vs US DollarAs we can see in the H4 chart, AUDUSD has completed the first correctional wave to the upside after testing 23.6 fibo. The current decline may be heading to break the low at 0.6967 and then continue down to 50.0 fibo at 0.6758. However, as long as the price is moving above the low, the pair may yet resume trading upwards to reach 38.2 and 50.0 fibo at 0.7364 and 0.7487 respectively.The H1 chart shows a more detailed structure of the current decline after divergence on MACD. The asset is approaching 50.0 fibo at 0.7108 and may later continue moving towards 61.8 and 76.0 fibo at 0.7075 and 0.7035 respectively. If the price breaks the local resistance at 0.7249, it may continue the ascending tendency.USDCAD, US Dollar vs Canadian DollarAs we can see in the H4 chart, the asset is correcting within the rising wave and has already tested 61.8 fibo twice. The current impulse may finally break this level and continue growing towards 76.0 fibo and the high at 1.2839 and 1.2963 respectively. A breakout of the high will result in a further uptrend towards the longterm 38.2 fibo at 1.3023. The support is the low at 1.2450.The H1 chart shows a more detailed structure of the current shortterm correction. After testing 38.2 fibo several times, the descending wave has failed to break it and reach 50.0 fibo at 1.2623. At the moment, the asset is trading upwards to reach the local high at 1.2796.

Forex Technical Analysis Forecast 11.02.2022

Posted: 11 Feb 2022 12:21 AM PST

EURUSD, Euro vs US DollarHaving completed another ascending structure at 1.1492, EURUSD is correcting downwards to reach 1.1376 and may later consolidate there. If the price breaks the range to the upside, the market may form one more ascending structure towards 1.1404; if to the downside resume trading downwards with the shortterm target at 1.1313.GBPUSD, Great Britain Pound vs US DollarAfter finishing another ascending structure at 1.3640 and rebounding from this level, GBPUSD is falling towards 1.3516 and may later consolidate there. If the price breaks the range to the upside, the market may form one more ascending structure towards 1.3577; if to the downside resume trading downwards with the shortterm target at 1.3461.USDRUB, US Dollar vs Russian RubleUSDRUB has broken 74.58 and may later continue trading downwards to reach 73.90. After that, the instrument may correct towards 75.37 and then start another decline with the target at 73.00.USDJPY, US Dollar vs Japanese YenHaving completed another ascending structure at 116.33 and rebounded from this level, USDJPY has finished the descending impulse at 115,71 along with the correction towards 116.16. After that, the instrument may form a new descending wave with the shortterm target at 115.20.USDCHF, US Dollar vs Swiss FrancAfter finishing the ascending wave at 0.9294 along with the correction towards 0.9225, USDCHF is growing to reach 0.9280 and may later consolidate there. If the price breaks the range to the upside,...
Posted by: at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)