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Fibonacci Retracements Analysis 27.07.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the daily chart, XAUUSD has updated its all-time high. Later, the instrument may continue growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 2254.60 and 2460.00 respectively. In the nearest future, the asset may start a short-term correction to the downside.

Fibonacci Retracements Analysis 27.07.2020 GOLD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H4 chart, there is a divergence on MACD, which may indicate a possible pullback. The closest correctional target is 23.6% fibo at 1828.00; the next ones are 38.2% and 50.0% fibo at 1756.00 and 1698.40 respectively. The resistance is the high at 1944.40.

Fibonacci Retracements Analysis 27.07.2020 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 current downtrend is speeding up and trying to break the long-term low at 0.9176. If it succeeds, USDCHF will continue its long-term downtrend towards 38.2% and 50.0% at 0.9092 and 0.8707 respectively.

Fibonacci Retracements Analysis 27.07.2020 USDCHF_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H4 chart shows a more detailed structure of the current descending movement. After breaking 76.0% fibo at 0.9350 (the current resistance) and fixing below it, the pair is testing the low. The closest downside target is the long-term 38.2% fibo 0.9092.

Fibonacci Retracements Analysis 27.07.2020 USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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