Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is forming another descending impulse. The downside targets are the retracements of 50.0% and 61.8% at 1271.47 and 1253.83 respectively. The resistance level is at 1346.68.
In the H1 chart, the pair reversed and started a new correction. The possible targets may be the retracements of 38.2% and 50.0% at 1301.09 and 1305.70. If the price breaks the local low at 1286.73, the instrument may continue its decline.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after reaching the retracement of 23.6%, USDCHF is moving sideways. The next downside target may be the retracement of 38.2% at 0.9782. The resistance level is high at 1.0149.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
In the H1 chart, the pair is trading sideways and may reach the retracement of 38.2% and 50.0% at 0.9980 and 1.0006 respectively. The support level is the low at 0.9894.
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.
