Fibo Analysis for GOLD and USD/CHF: July 16, 2018

July 16, 2018

Article By RoboForex.com

GOLD

On H4, the gold has broken out both the local and the long term low at $1,236.50 with its new downward move. The further downward targets may lie in the post correctional range of 138.20 to 161.80% Fibo extensions, or between $1227.00 and $1220.80. The resistance is at $1265.90.

GOLD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, the price is start pulling back after a convergence. This pullback targets may be at the following Fibo retracement levels: 38.20% ($1,247.60), 50.00% ($1,251.10), and 61.80% ($1,254.60).

GOLD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USD/CHF

The USD/CHF has broken out its latest key high on H4. The further rise targets may lie within the post correctional range between 138.20% and 161.80% Fibo, or between $1.0157 and 1.0220. The ascending trend is supported with 0.9851.


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USDCHF1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On H1, the USD/CHF is correcting towards 38.20% (0.9987), 50.00% (0.9963), and 61.80% (0.9938). The resistance is at 1.0068.

USDCHF2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.