Fibonacci Retracements Analysis 07.10.2019 (GOLD, USDCHF)

2019-10-10 00:04    RoboForex

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the convergence made the pair complete the descending correction at 61.8% fibo and start a new growth, which has already reached 61.8% fibo. The next upside targets may be 76.0% fibo at 1533.25 and the high at 1557.00. If XAUUSD breaks the high, the instrument may continue growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 1594.45 and 1617.25 respectively.

Fibonacci Retracements Analysis 07.10.2019 (GOLD, USDCHF) Institution Opinions 1
Fibonacci Retracements Analysis 07.10.2019 (GOLD, USDCHF) Institution Opinions 2

In the H1 chart, we can see a short-term pullback, which has already reached 38.2% fibo and may yet continue towards 50.0% and 61.8% fibo at 1489.34 and 1482.18 respectively. The resistance is the high at 1519.57.

Fibonacci Retracements Analysis 07.10.2019 (GOLD, USDCHF) Institution Opinions 3
Fibonacci Retracements Analysis 07.10.2019 (GOLD, USDCHF) Institution Opinions 4

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the divergence made the pair finish the ascending tendency at 61.8% fibo. However, if the price breaks the high at 1.0028, the tendency may yet continue to reach 76.0% fibo at 1.0098. Still, the divergence indicates a new decline in the first place, which has already reached 23.6% fibo. The next downside targets may be 38.2%, 50.0%, 61.8%, and 76.0% fibo at 0.9887, 0.9844, 0.9801, and 0.9748 respectively.


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

In the H1 chart, after completing the descending impulse, the pair is still testing 23.6% fibo. The next downside target is 38.2% fibo at 0.9887.

USDCHF_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GoldCHFFibonacci Retracements

0 traders reviewed this item, please leave a reply!

About FXYEAH | Broker Listing | Contribute | Contact Us | Sitemap | TagCloud
Disclaimer: All contents of site are only for your reference, don't suggest you do any investment decision, you should be responsible for your decision.