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XAU USD, “Gold vs US Dollar”
At the H4 chart, after breaking the local highs, the XAU/USD pair continues forming a mid-term correction. The correction has already reached the retracement of 38.2%. The next possible targets may be the retracements of 50.0% and 61.8% at 1308.60 and 1320.20 respectively.
As we can see at the H1 chart, after being corrected to the downside, the pair started forming a new ascending impulse and has already reached the post-correctional extension area between the retracements of 138.2% and 161.8% at 1294.90 and 1298.65 respectively. One of the main closest targets is the retracement of 261.8% at 1312.75.
USD CHF, “US Dollar vs Swiss Franc”
At the H4 chart, the local correction continues. By now, the USD/CHF pair has already been corrected by 23.6%. The next targets of this correction are the retracements of 38.2% and 50.0% at 0.9803 and 0.9728 respectively. After finishing the correction, the instrument may resume growing towards 1.0123.
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At the H1 chart, the current situation is the same.
RoboForex Analytical Department
Article By RoboForex.com
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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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.