RoboForex - Analytics

RoboForex

872.75 5.25/10
79% of positive reviews
Real
How to join the service?

Fibonacci Retracements Analysis 19.04.2021 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is correcting upwards and has already reached 38.2% fibo. The next upside targets may be 50.0% and 61.8% fibo at 1818.15 and 1851.32 respectively. After completing the correction and breaking the low at 1676.78, the market may continue falling to reach its mid-term target, which is 50.0% fibo at 1617.50.

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

The H1 chart shows that after breaking 38.2% fibo to the upside, the pair is trying to fix above it. At the moment, the asset is rising towards 50.0% fibo at 1818.50 but there is a divergence on MACD, which may indicate a possible pullback. In this case, the correctional target may be the support at 1743.47.

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”

In the H4 chart, a divergence on MACD made USDCHF finish the ascending wave and start a new decline, which has already reached 38.2% fibo and is currently approaching 50.0% fibo at 0.9116. After that, the market may continue falling towards 61.8% and 76.0% fibo at 0.9031 and 0.8930 respectively. If later the price breaks 76.0% fibo, it may attack the low at 0.8758. The key resistance is the high at 0,9473, a breakout of which may lead to a further uptrend towards the long-term 50.0% fibo at 0.9496.

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

As we can see in the H1 chart, after a thorough test of 38.2% fibo at 0.9200, the pair has broken it, and now it’s a resistance level. Possibly, the asset may reach 50.0% fibo at 0.9116 and then start a new pullback towards the resistance – this scenario is confirmed by a divergence on MACD.

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