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XAU USD, “Gold vs US Dollar”

At the H4 chart, the downtrend continues. If the XAU/USD pair breaks the local low at 1260.90, the instrument may move towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1243.30 and 1230.60 respectively.

As we can see at the H1 chart, the convergence is being formed and the pair may try to reverse. By now, the price has already been corrected by 23.6%. The next targets of the ascending correction may be the retracements of 38.2%, 50.0% and 61.8% at 1279.80, 1284.70 and 1289.60 respectively. However, if the price reaches a new low, the instrument may fall towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1259.80 and 1257.60 respectively.

USD CHF, “US Dollar vs Swiss Franc”

At the H4 chart, the uptrend continues. The USD/CHF pair has already been corrected to the upside by 61.8% and may continue growing towards the retracements of 76.0% at 1.0125. The next possible target may the high at 1.0345.

As we can see at the H1 chart, the pair is being corrected to the downside and has already reached the retracement of 38.2%. The next targets of this correction may be the retracements of 50.0% and 61.8% at 0.9953 and 0.9934 respectively. After finishing the correction, the instrument may resume growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.0066 and 1.0084 respectively.

RoboForex Analytical Department

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.