Article By RoboForex.com
GOLD
On H4, gold is moving inside a correctional range after hitting 23.60% Fibo. The primary 50% impulse has been corrected, and the price may now head to 61.80 at $1,180.80. After hitting the current high at $1,214.28, the price may correct upwards to 38.20%, or $1,238.40, and 50.00%, or $1262.50.
On H1, gold is moving down, heading towards the local low at $1.187.67. Once this level gets broken out, the price is likely to go down to reach the post-correctional range of 138.20-161.80% Fibo, or $1,178.15 to $1,172.00.
USD/CHF
The USD/CHF is heading down on H4 within the midterm downtrend, approaching 50.00% Fibo, or 0.9628. After hitting the local low, the price may further go down to the post correctional extension between 138.20% and 161.80%, or 0.9596 to 0.9568, with the resistance being at the 0.9759 high.
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On H1, one can watch USD/CHF downtrend in a more detailed way.
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.
