Article By RoboForex.com
XAU USD, “Gold vs US Dollar”
At the H4 chart, after the convergence and reaching the post-correctional extension area between the retracements of 138.2% and 161.8%, the XAU/USD pair started a new correction to the upside, which has already reached the retracement of 38.2%. The next upside targets maybe the retracements of 50.0%, 61.8%, and 76.0% at 1267.95, 1275.27, and 1284.29 respectively.
At the H1 chart, we can see the divergence, which made the price start a new descending correction, which has already reached the retracement of 38.2%. In case this movement continues, the price may reach the retracements of 50.0% and 61.8% at 1249.24 and 1246.20 respectively. After breaking the current high, the instrument may move to break the targets from the daily chart.
USD CHF, “US Dollar vs Swiss Franc”
As we can see at the H4 chart, the previous short-term ascending impulse has been corrected by 50.0%. The next targets may be the retracements 61.8% and 76.0% and 0.9827 and 0.9793 respectively. The upside target may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.0030 and 1.0062 respectively. However, the instrument may reach it only after breaking the current high.
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At the H1 chart, the pair may continue growing towards the retracements of 76.0% at 0.9945, and then to reach the high at 0.9978.
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.
