Article By RoboForex.com
GOLD
On H4, the correction uptrend reached 38.20% Fibo and then started fading out. In another uptrend stage forms, the targets will lie at 50% and 61.80% Fibo, or $1,313.80 and $1,321.45, respectively. If a downtrend is starting, however, then the price will first hit the local low at $1,280.71, and then may head towards 50% and 61,80%, or $1,271.55 and $1,253.90.
On H1, the Gold is pulling back after a correctional downside move. The targets may lie at 61.8% and 76.0% Fibo, or $1,292.40 and $1,288.05, respectively. The major resistance is at $1,311.23.
USDCHF
On H4, the USDCHF is experiencing a downmove inside a midterm correction. The move targets 50% Fibo, or 0.9882, but this one may be reached only once the low at 0.9926 gets broken out. The resistance is meanwhile at the 1.0149 high.
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On H1, the USDCHF is downtrending, falling towards 61.80% (1.0002) and 76% (0.9974) Fibo. The indicator is converging, which means the downtrend may end soon. The high at 1.0124 acts as a resistance.
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.
