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Fibonacci Retracements Analysis 10.06.2019 (GOLD, USDCHF)

10 june 2019 - Fx4News

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has broken the previous significant high and may continue the ascending tendency in the shirt-term. Right now, the pair is being corrected after the divergent and has already reached 23.6%. The next targets may be the retracements of 38.2%, 50.05%, and 61.8% at 1318.13, 1308.91, and 1299.74 respectively. The resistance is at 1348.20.

GOLD_H4_Анализ по Фибоначчи
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows more detailed structure of the current descending tendency. The closest downside target is the retracement of 38.2% at 1318.13.

USDCHF_H1_Анализ по Фибоначчи
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc” 

In the H4 chart, USDCHF is steadily trading inside the long-term downtrend. By now, the pair has almost reached the retracement of 38.2%. The next downside target may be the retracement of 50.0% at 0.9712. The current movement may be considered as a short-term correction. The resistance is at 0.9989.

USDCHF_H4_Анализ по Фибоначчи
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the H1 chart, the pullback has reached the retracement of 38.2%. The next upside targets may be the retracements of 50.0% and 61.8% at 0.9976 and 1.0005 respectively. if the instrument breaks the low at 0.9854, the downtrend will continue.

USDCHF_H1_Анализ по Фибоначчи
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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