Fibo Analysis for EUR/USD and USD/JPY: July 24, 2018

24.07.2018

EUR/USD

On H4, the EUR/USD is continuing to trade sideways in the midterm. The best levels for correctional rise now are 38.2% or 50.0% Fibo, or 1.1854 and 1.1960, respectively. In case the low at 1.1508 gets broken out, the price may move to the post correctional extension within 138.2 and 161.8%, or 1.1377-1.1298.

EURUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, the EUR/USD is finishing its correction at 50.0% Fibo, compared to the latest short term rise.Next, the price may break out the local high at 1.1750, and then reach the post correction extension range between 138.2% and 161.8%, or 1.1810-1.1854.

EURUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USD/JPY

On H4, the USD/JPY is forming a downtrend after the divergence and the ascending trend having faded out. The downtrend reached 23.6% Fibo and may continue to reach 38.2% (109.93), 50.0% (108.92), and 61.8% (107.90). The high at 113.18 acts as a resistance.

USDJPY1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, the USD/JPY is forming a more detailed downtrend.

USDJPY2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Trading analysis & analytics

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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.