Fibonacci Retracements Analysis 11.02.2019 (GOLD, USDCHF)

2019-02-11 15:01    RoboForex

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the divergence made XAUUSD start a new descending correction, which is heading towards the retracement of 23.6% at 1287.00. The next targets of this pullback may be the retracements of 38.2% and 50.0% at 1262.75 and 1243.20 respectively. The resistance level is the high at 1326.23.

Fibonacci Retracements Analysis 11.02.2019 (GOLD, USDCHF) Institution Opinions 1
Fibonacci Retracements Analysis 11.02.2019 (GOLD, USDCHF) Institution Opinions 2

In the H1 chart, there are two possible scenarios. According to the first one, the pair has reached the retracement of 50.0% and right now is finishing the local pullback due to the convergence on MACD. The second scenario implies that the price may form a new rising impulse towards the retracements of 61.8% and 76.0% at 1317.20 and 1320.60 respectively, or even break the high. The support level is at 1302.74. If the instrument breaks it, the pair may continue the long-term downtrend.

Fibonacci Retracements Analysis 11.02.2019 (GOLD, USDCHF) Institution Opinions 3
Fibonacci Retracements Analysis 11.02.2019 (GOLD, USDCHF) Institution Opinions 4

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF completed a quick and volatile rising impulse, broke the previous high, but then returned to the downside. The mid-term support is at 0.9874. If the price breaks the previous high, the pair may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.0285 and 1.0383 respectively. The resistance level is the high at 1.0149.


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

In the H1 chart, after finishing the rising impulse, the pair started a new pullback, which has already reached the retracement of 38.2%. In the future, the uptrend may continue towards the retracements of 50.0% and 61.8% at 0.9932 and 0.9881 respectively.

USDCHF2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GoldCHF

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