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Fibonacci Retracements Analysis 01.03.2021 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

On H4, the quotations are bouncing after a decline and a test of the low area at 1676.78. We can expect further growth and the extension of the correctional phase with the aims of 38.2% (1785.00), 50.0% (1818.15), 61.8% (1851.32). When the correction is over and the low is broken away, the decline will continue towards the medium-term goal of 50.0% (1617.50).

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

On H1, a new wave of growth has reached 61.8% Fibo of the preceding decline. After a short-term pullback, growth to 76.0% (1736.90) and then the local high of 1755.52 should follow.

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”

On H4, the quotations demonstrate further development of the uptrend. The quotations are aiming at 50.0% (0.9496) Fibo. As long as there is a divergence forming on the MACD, we should expect a correctional decline. The main goals of the correction are 23.6% (0.9348), 38.2% (0.9256), and 50.0% (0.9183).

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

On H1 of USDCHF, the wave of growth after a correction reached the post-correctional extension area of 138.2-161.8% (0.9438-0.9477) Fibo. The local divergence became a signal for a short-term pullback, and the first impulse of the decline reached 23.6%. Further decline might reach 38.2% (0.9377) and 50.0% (0.9347). The resistance level is 0.9473.

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


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