Fibonacci Retracements Analysis 13.06.2019 (AUDUSD, USDCAD)

13.06.2019

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, there was a divergence on MACD, which made AUDUSD complete the correctional uptrend at 38.2% fibo and start a new decline. If the price starts a new rising impulse, the upside target may be 50.0% fibo at 0.7034. Still, the current decline is looking quite stable, that’s why the instrument is expected to break the low at 0.6864 and mid-term 61.8% fibo at 0.6833.

AUDUSD_H4_Анализ по Фибоначчи
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the divergence made AUDUSD start a new downtrend, which has already reached 76.0% fibo. In this light, the instrument is expected to break the low and then continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 0.6804 and 0.6766 respectively.

AUDUSD_H1_Анализ по Фибоначчи
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the current descending impulse has reached 61.8% fibo. Right now, the pair is forming an upwards pullback towards the resistance at 38.2% fibo at 1.3374. After completing the pullback, the price may start a new descending wave towards 76.0% fibo at 1.3187.

USDCAD_H4_Анализ по Фибоначчи
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows more detailed structure of the current correctional uptrend, which is heading towards 38.2% fibo at 1.3346 or even higher, 50.0% and 61.8% fibo at 1.3402 and 1.3440 respectively. The local support is the low at 1.3240.

USDCAD_H1_Анализ по Фибоначчи
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.