Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
As we can see in the daily chart, XAUUSD is still forming another rising wave within the uptrend and may soon reach 50.0% fibo. Later, the pair is expected to continue the uptrend to reach 61.8% and 76.0% fibo at 1908.00 and 1969.50 respectively. The key support remains at the low at 1638.76.
The H1 chart shows a short-term correction to the downside after the previous ascending impulse, which earlier reached 76.0% fibo. After the pullback is over, the asset may grow to the local high at 1877.09. The local support is at 1752.50.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the asset is falling towards the support at 0.9085; it may soon re-test this area and rebound from it. However, the price breaks it, the instrument may continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 0.8975 and 0.8907 respectively. The key resistance is the high at 0.9374.
The H1 chart shows that the pair is moving upwards after testing the low at 0.9092 and has already reached 23.6% fibo. Later, the market may continue growing towards 38.2%, 50.0%, and 61.8% fibo at 0.9200, 0.9233, and 0.9266 respectively. If USDCHF breaks the local low at 0.9092, it may continue falling to reach the key one at 0.9085.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- Oil continues to fall in price. The Australian dollar reached the maximum for 5 weeks Jan 24, 2025
- Japanese Yen Strengthens as Interest Rate Reaches Highest Level Since 2008 Jan 24, 2025
- Oil down 4 consecutive sessions since Trump’s inauguration. Natural gas prices rise again due to cold weather Jan 23, 2025
- The threat of tariffs by the US against Mexico, Canada, and China is adding uncertainty to financial markets Jan 22, 2025
- Gold Reaches 11-Month High as Global Demand for Safe Assets Surges Jan 22, 2025
- Hong Kong index rises for the 6th consecutive session. Oil declines amid Trump’s statements to increase production Jan 21, 2025
- Japanese Yen Strengthens to a Monthly High as Markets Anticipate a Bank of Japan Rate Hike Jan 21, 2025
- COT Metals Charts: Speculator Changes led higher by Gold, Copper & Silver Jan 19, 2025
- COT Bonds Charts: Weekly Speculator Changes led by 10-Year & 5-Year Bonds Jan 19, 2025
- COT Soft Commodities Charts: Weekly Speculator Wagers led by Soybeans & Soybean Oil Jan 19, 2025
