Article By RoboForex.com
XAU USD, “Gold vs US Dollar”
As we can see at the H4 chart, the XAU/USD pair is still forming a mid-term correction with the targets at the retracements of 50.0% and 61.8% at 1308.60 and 1320.20 respectively. If the price breaks 1320.20 and fixes above it, the instrument may start forming a new mid-term rising impulse.
At the H1 chart, the pair is forming a new ascending impulse with the closest targets inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1269.65 and 1299.78 respectively.
USD CHF, “US Dollar vs Swiss Franc”
At the H4 chart, the descending correction continues and has already reached 38.2%. The next targets of this correction are the retracements of 50.0% and 61.8% at 0.9730 and 0.9657 respectively.
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At the H1 chart, the pair is forming the descending impulse along with the convergence, which means that after reaching the local target at 0.9730, the price may start a new pullback towards the retracement of 50.0% at 0.9837.
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.
