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Fibonacci Retracements Analysis 09.03.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the daily chart, the long-term trend was a little bit shy of reaching 76.0% fibo at 1708.10. after that, there was a divergence on MACD, which made the pair reverse and start falling. The key downside target may be 50.0% fibo at 1482.50.

GOLD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H4 chart, the correctional downtrend may be followed by a new rising wave. In this case, the upside targets may be above 76.0% fibo (1708.10) inside the post-correctional extension area between 138.2% and 161.8% fibo at 1736.80 and 1767.15 respectively.

GOLD_H4
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 daily chart, the long-term bearish trend continues. The pair is heading towards 38.2% and 50.0% fibo at 0.9094 and 0.8707 respectively. the resistance is the high at 1.0344.

USDCHF_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is quickly plunging towards 38.2% fibo at 0.9094.

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


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