Article By RoboForex.com
XAU USD, “Gold vs US Dollar”
At the H4 chart, the divergence made the XAU/USD pair start a new descending correction. The targets are the retracements of 23.6%, 38.2%, and 50.0% at 1319.17, 1303.11, and 1290.61 respectively.
At the H1 chart, the pair may move towards the local high at 1344.64. After breaking it, the price may grow towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1352.20 and 1357.10 respectively.
USD CHF, “US Dollar vs Swiss Franc”
At the H4 chart, the downtrend continues. Apart from this, we can see the convergence being formed, which may indicate a possible reverse. The next downside targets are the local low at 0.9536 and inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.9495 and 0.9471 respectively.
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As we can see at the H1 chart, after reaching the targets, the pair may start trading towards the area between the retracements of 23.6% and 50.0%. The main target is at 0.9724.
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.
