RoboForex - Analytics

RoboForex

929.75 5.25/10
79% of positive reviews
Real
How to join the service?

Fibonacci Retracements Analysis 18.11.2019 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is correcting after completing the descending wave; right now, it is testing the area between 50.0% and 61.8% fibo. The next downside target may be 76.0% fibo at 1438.05 and the fractal low at 1400.49. The descending MACD indicator confirms further decline.

GOLD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows more detailed structure of the current correction after the convergence on MACD. By now, the correctional uptrend has already reached 38.2% fibo and may yet continue towards 50.0% and 61.8% fibo at 1480.80 and 1489.10 respectively. However, if the price breaks the low at 1445.60, the instrument may resume trading inside the downtrend.

GOLD_H1
Risk Warning: the result 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 still correcting between 23.6% and 50.0% fibo; right now, it is testing 38.2% fibo. Considering the current descending impulse, the main scenario implies further decline towards 61.8% fibo at 0.9801.

USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is correcting after the convergence on MACD and has almost reached 38.2% fibo at 0.9912. The next upside target may be 50.0% fibo at 0.9924. The support is the low at 0.9870.

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


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree