XAUUSD, “Gold vs US Dollar”
In the H4 chart, the descending correction continues; it has already reached the retracement of 38.2%. The next targets of this decline are the retracements of 50.0% and 61.8% at 1301.30 and 1286.00 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
As we can see in the H1 chart, XAUUSD has started a new ascending correction, which is moving towards the retracements of 50.0% and 61.8% at 1329.00 and 1334.20 respectively. However, if the price breaks the low at 1307.00, the instrument may continue falling to reach 1301.30.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is being corrected to the upside and has already reached the retracement of 23.6%. The next possible targets are the retracements of 38.2%, 50.0%, and 61.8% at 0.9532, 0.9617, and 0.9702 respectively. The main support level is at 0.9255.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair is being corrected to the downside and has already reached the retracement of 50.0%. The correction may yet continue towards the retracements of 61.8% and 76.0% at 0.9338 and 0.9307 respectively. After finishing the correction, the instrument may grow towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.9515 and 0.9544 respectively.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department