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XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is being corrected sideways and has already reached the retracement of 23.6%. The next targets of this correction may be the retracements of 38.2% and 50.0% at 1313.70 and 1323.50 respectively. The support level is the low at 1282.09. After breaking the current low, the instrument may continue falling towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1272.40 and 1266.50 respectively.
In the H1 chart, the pair is trading sideways between 1301.60 and 1282.09, which are the resistance level and the support one respectively.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF has been corrected to the downside by 50.0%. The current ascending impulse is trading towards the high at 1.0056. However, the downtrend may yet continue to reach 0.9735.
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In the H1 chart, the pair is being corrected upwards and has already reached the retracement of 38.2%. The next targets are the retracements of 50.0%б 61.8%, and 76.0% at 0.9923, 0.9954, and 0.9993 respectively.
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.