Forex Technical Analysis & Forecasts

Forex Technical Analysis & Forecasts

Fibonacci Retracements Analysis 08.02.2022 EURUSD, USDJPY

Posted: 08 Feb 2022 12:33 AM PST

EURUSD, Euro vs US DollarAs we can see in the H4 chart, the asset is quickly correcting to the upside after completing the previous downtrend, which failed to reach 76.0 fibo at 1.1047 due to convergence on MACD. As of now, the first rising impulse has already reached 23.6 fibo. In the nearest future, the pair may form a slight pullback, which may later be followed by a further uptrend towards 38.2 fibo at 1.1590. The support is the low at 1.1120.The H1 chart shows a more detailed structure of the current descending correction, which may be heading towards 23.6, 38.2, and 50.0 fibo at 1.1398, 1.1345, and 1.1302 respectively. A breakout of the resistance at 1.1484 will lead to a further uptrend.USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, USDJPY is moving upwards after finishing the previous correctional decline; it has already tested 76.0 fibo and may later continue to break the high at 116.35. After that, the instrument may continue growing towards the postcorrectional extension area between 138.2 and 161.8 fibo at 117.45 and 118.14 respectively. The key support is the low at 113.47.In the H1 chart, the previous correctional wave has reached 61.8 fibo, while a new wave to the upside is heading to break the local high at 115.68.

Forex Technical Analysis Forecast 08.02.2022

Posted: 07 Feb 2022 11:48 PM PST

EURUSD, Euro vs US DollarEURUSD is still consolidating around 1.1425. Possibly, today the pair may fall with the shortterm target at 1.1386. Later, the market may correct to test 1.1410 from below and then resume trading downwards to reach 1.1370.GBPUSD, Great Britain Pound vs US DollarGBPUSD continues forming a new consolidation range around 1.3552. Possibly, the pair may break it to the downside and form a new descending structure towards 1.3465. Later, the market may correct to test 1.3522 from below and then start another decline with the target at 1.3455.USDRUB, US Dollar vs Russian RubleHaving broken 76.01, USDRUB continues trading downwards to reach 75.25. After that, the instrument may start another correction towards 77.15 and then resume falling with the target at 74.58.USDJPY, US Dollar vs Japanese YenUSDJPY is forming a new ascending wave towards 115.45 and may later resume trading downwards to break 114.78. After that, the instrument may continue falling with the target at 114.04.USDCHF, US Dollar vs Swiss FrancUSDCHF is still consolidating around 0.9232. Possibly, the pair may break it to the upside and reach 0.9294. Later, the market may start a ne decline to break 0.9232 and ten continue falling with the target at 0.9136.AUDUSD, Australian Dollar vs US DollarAfter forming a new consolidation range around 0.7100 and breaking it to the upside, AUDUSD is expected to continue trading upwards with the target at 0.7157. Later, the market may start another decline...
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