Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
As we can see in the daily chart, XAUUSD has updated its all-time high. Later, the instrument may continue growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 2254.60 and 2460.00 respectively. In the nearest future, the asset may start a short-term correction to the downside.
In the H4 chart, there is a divergence on MACD, which may indicate a possible pullback. The closest correctional target is 23.6% fibo at 1828.00; the next ones are 38.2% and 50.0% fibo at 1756.00 and 1698.40 respectively. The resistance is the high at 1944.40.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the daily chart, the current downtrend is speeding up and trying to break the long-term low at 0.9176. If it succeeds, USDCHF will continue its long-term downtrend towards 38.2% and 50.0% at 0.9092 and 0.8707 respectively.
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The H4 chart shows a more detailed structure of the current descending movement. After breaking 76.0% fibo at 0.9350 (the current resistance) and fixing below it, the pair is testing the low. The closest downside target is the long-term 38.2% fibo 0.9092.
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.
