Forex Technical Analysis & Forecasts

Forex Technical Analysis & Forecasts

Fibonacci Retracements Analysis 23.02.2022 GBPUSD, EURJPY

Posted: 22 Feb 2022 11:45 PM PST

GBPUSD, Great Britain Pound vs US DollarAs we can see in the H4 chart, GBPUSD is still consolidating around 38.2 fibo and this consolidation range may later be followed by a new rising impulse. The midterm upside targets may be 61.8 and 76.0 fibo at 1.3833 and 1.3987 respectively. The key support remains at the low at 1.3160.The H1 chart shows that the pair has tested 61.8 fibo several times; right now, the asset is testing it again. In this case, the price is expected to continue trading upwards. The upside targets are 76.0 fibo and the high at 1.3655 and 1.3749 respectively. The local support is at 1.3358.EURJPY, Euro vs. Japanese YenAs we can see in the H4 chart, EURJPY is completing the descending correction, which may be followed by a new wave to the upside to reach the high at 134.12. The support is the low at 127.38.The H1 chart shows a more detailed structure of the current price movement. Divergence on MACD made the asset stop falling at 76.0 fibo and start a new growth, which has already reached 38.2 fibo at 130.80. After a slight pullback, the pair may resume growing to reach 50.0, 61.8, and 76.0 fibo at 131.26, 131.71, and 132.24 respectively, and then the high at 133.15. The local support is the low at 129.36.

Forex Technical Analysis Forecast 23.02.2022

Posted: 22 Feb 2022 11:36 PM PST

EURUSD, Euro vs US DollarEURUSD is consolidating around 1.1324. Possibly, today the pair may fall to break 1.1284 and then continue trading downwards with the target at 1.1255.GBPUSD, Great Britain Pound vs US DollarHaving reached 1.3540 and then completed the correction at 1.3585, GBPUSD is consolidating below the latter level. Possibly, the pair may form a new descending structure with the target at 1.3535.USDRUB, US Dollar vs Russian RubleUSDRUB is consolidating around 79.27. Today, the pair may break the range to the downside and resume falling towards 77.67. After that, the instrument may form one more ascending wave to return to 79.27.USDJPY, US Dollar vs Japanese YenHaving finished the correction at 115.20 along with the descending wave towards 114.80, USDJPY is forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may start another growth to reach 115.30; if to the downside resume falling with the target at 114.00.USDCHF, US Dollar vs Swiss FrancUSDCHF is falling towards 0.9180. Later, the market may grow to reach 0.9288 and then resume trading downwards with the target at 0.9144.AUDUSD, Australian Dollar vs US DollarAUDUSD continues consolidating below 0.7230. Possibly, today the pair may fall to break 0.7195 and then continue falling with the target at 0.7157.BRENTAfter finishing the ascending wave at 99.00 along with the correction down to 96.00, Brent is expected to resume growing and return...
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