Fibonacci Retracements Analysis 22.04.2019 (GOLD, USDCHF)

2019-04-22 16:03    RoboForex

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is forming a new descending impulse, which has already reached the retracement of 50.0%. At the same time, there is a convergence on MACD, which may indicate a new pullback towards the local resistance at 1289.20. After finishing the pullback, the instrument may start another descending impulse to reach the retracement of 61.8% at 1253.65.

Fibonacci Retracements Analysis 22.04.2019 (GOLD, USDCHF) Institution Opinions 1
Fibonacci Retracements Analysis 22.04.2019 (GOLD, USDCHF) Institution Opinions 2

In the H1 chart, the convergence made the pair start a new rising correction, which is getting close to the retracement of 23.6% at 1280.50. The next upside target may be the retracements of 38.2% and 50.0% at 1286.25 and 1290.80 respectively. The support is tat 1271.14.

Fibonacci Retracements Analysis 22.04.2019 (GOLD, USDCHF) Institution Opinions 3
Fibonacci Retracements Analysis 22.04.2019 (GOLD, USDCHF) Institution Opinions 4

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is testing its mid-term high to break it. In case the price succeeds and fixes above it, the instrument may continue growing to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.0247 and 1.0306 respectively. The support is the retracement of 76.0% at 1.0088.


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

In the H1 chart, the pair is testing the high and may start a new short-term pullback after it. The downside targets may be the retracement of 23.6%, 38.2%, and 50.0% at 1.0120, 1.0097, and 1.0078 respectively. The resistance level is the local high at 1.0159.

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

GoldCHF

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