Article By RoboForex.com
XAU USD, “Gold vs US Dollar”
As we can see at the H4 chart, after a slight correction, the XAU/USD pair started forming a new impulse, which has already broken the post-correctional extension area between the retracements of 138.2% and 161.8%. The next upside target may be the retracement of 261.80% at 1355.00. At the same time, we can see the divergence being formed, that’s why after reaching the target the instrument may start a new correction.
At the H1 chart, possible targets of the possible correction in the future may be the retracements of 38.2% and 50.0% at 1326.90 and 1309.50 respectively
USD CHF, “US Dollar vs Swiss Franc”
As we can see at the H4 chart, the USD/CHF pair is forming a new descending impulse towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.9644 and 0.9609 respectively. The next downside target may be at 0.9569. However, we can see the convergence being formed, that’s why the instrument may start a new pullback after reaching its downside targets.
Free Reports:
At the H1 chart, the pair is trading downwards steadily. After finishing the downtrend, the price may start a new ascending correction. The targets of this correction may be the retracements of 38.2%, 50.0%, and 61.8% at 0.9723, 0.9772, and 0.9821 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.