Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is still being corrected sideways; the closest target is the retracement of 23.6% at 1274.33. The next possible downside targets may be the retracements of 38.2 and 50.0% at 1259.40 and 1247.35 respectively. However, if the price breaks the high at 1298.74, the instrument may resume growing to reach its mid-term target at 1316.02 (the retracement of 76.0%).
In the H1 chart, the pair is breaking its consolidation range in the form of the Triangle downwards. The current descending impulse is heading towards the retracement of 23.6% at 1274.33.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the correctional uptrend has already broken the retracement of 50.0% and right now is getting closer to the retracement of 61.8% at 0.9970. 61.8%. The next target may be the retracement of 76.0% at 1.0029. The key resistance level is the high at 1.0128; the support – 0.9716.
Free Reports:
In the H1 chart, the pair is trading upwards to reach the retracement of 61.8% at 0.9970. At the same time, there is a divergence on MACD, which may indicate a possible pullback after the price reaches its targets. The support is at 0.9922.
Article By RoboForex.com
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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.