XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is being corrected to downside and has already reached the retracement of 50.0%. The next correctional target may be the retracement of 61.8% at 1286.00. However, the convergence that is being formed may force the price reverse and start a new ascending impulse. The main target is the high at 1366.00. After breaking it, the instrument may trade towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1390.00 and 1404.70 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the convergence made the pair start a new correction, which has already reached the retracement of 38.2%. In the future, the correction may continue towards the retracements of 50.0%, 61.8%, and 76.0% at 1334.40, 1341.78, and 1350.80 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 convergence made USDCHF reverse and start a new ascending correction, which has already reached the retracement of 38.2%. The next targets of the correction may be the retracements of 50.0% and 61.8% at 0.9582 and 0.9675 respectively. The main support level is the low at 0.9187.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, after being up and down, the pair is reaching stability. The current movement is supported by 0.9322. The short-term target of a new ascending impulse is the current high at 0.9490. After breaking it, the instrument may trade towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.9548 and 0.9582 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department