Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has slowed down its ascending movement. In case it continues, the target may be the retracement of 76.0% at 1232.00 and the current high at 1243.41. If the price breaks the high, it may grow towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1261.25 and 1272.55 respectively. The key support level is at 1196.26.
In the H1 chart, the divergence made the pair start a new decline, which has already reached the retracement of 23.6%. The next targets may be the retracements of 38.2% and 50.0% at 1217.24 and 1213.20 respectively. If the price breaks the local high at 1230.03, the instrument may continue growing towards the high at 1243.41.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after reaching the retracement of 38.2% at 0.9904, USDCHF has started a new pullback. The possible targets may be the retracements of 50.0% and 61.8% at 0.9836 and 0.9765 respectively. The resistance level is the high at 1.0128.
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In the H1 chart, the pair is being corrected to the upside. The targets of this pullback may be the retracements of 38.2% and 50.0% at 0.9993, and 1.0018 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.