Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
In the H4 chart, after breaking the upside border of the consolidation range, XAUUSD has fallen to reach 23.6% fibo at 1409.43 due to the divergence. Possibly, the pair may yet continue falling to reach 38.2% fibo at 1382.66 and the fractal at 1381.69. According to the main scenario, the instrument is expected to resume trading upwards after completing the pullback. The upside targets are inside the post-correctional extension area between 138.2% and 161.8% fibo at 1460.70 and 1474.00 respectively.
As we can see in the H1 chart, the convergence made the pair form a new pullback. In the nearest future, the price may continue trading downwards.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after being corrected to the downside by 50.0%, USDCHF is forming a new rising impulse. The upside targets are the high at 0.9951, as well as 50.0% and 61.8% fibo at 0.9960 and 1.0023 respectively. Proximity to the parity has a significant influence. The support is 61.8% fibo at 0.9792.
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In the H1 chart, the pair is steadily trading upwards to reach its targets. At the same time, there is a possibility of a new short-term pullback towards 38.2% fibo.
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.
