XAUUSD, “Gold vs US Dollar”
In the H4 chart, the divergence made XAUUSD start a new descending correction, which has already reached the retracement of 23.6%. The next targets of this decline are the retracements of 38.2% and 50.0% at 1316.40 and 1301.40 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair is starting a new descending impulse towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1325.65 and 1321.35 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, the downtrend continues towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.9180 and 0.9033 respectively. Taking into account the convergence, USDCHF may reach the targets and then start a new correction towards the area between the retracements of 38.2% and 61.8% at 0.9265 and 0.9407 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the situation is similar and confirms the scenario described above. The closest downside target is at 0.9180.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department