RoboForex - Analytics

RoboForex

944.75 5.25/10
79% of positive reviews
Real
How to join the service?

Fibonacci Retracements Analysis 19.10.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is still correcting to the upside after the convergence and has almost reached 38.2% fibo. The next upside targets may be 50.0%, 61.8%, and 76.0% fibo at 1962.00, 1988.40, 2020.30 respectively. If the price completes the pullback there, the asset may start a new decline to reach the low at 1848.67 and then the long-term 38.2% fibo at 1836.50.

Fibonacci Retracements Analysis 19.10.2020 GOLD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, after the divergence, the descending wave has tested the area close to 61.8% fibo at 1881.00. Judging by the current wave, the asset is not expected to continue falling towards 76.0% fibo at 1869.07. According to the main scenario, the instrument may grow to break the high at 1933.18.

Fibonacci Retracements Analysis 19.10.2020 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, after finishing a short-term pullback, USDCHF is forming a new descending wave towards 76.0% fibo at 0.9070. This descending wave may easily break the low at 0.8999 and then reach the post-correctional extension area between 138.2% and 161.8% fibo at 0.8885 and 0.8816 respectively.

Fibonacci Retracements Analysis 19.10.2020  USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, a divergence on MACD made the pair complete the pullback at 50.0% fibo and start a new movement towards the mid-term 76.0% fibo at 0.9070.

Fibonacci Retracements Analysis 19.10.2020 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

  • avatar-11044
    Peter Jonson
    • #

    As long as the dollar is declining, there is now a good chance of buying gold. Thanks for the analysis!


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