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Fibonacci Retracements Analysis 27.12.2021 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

In the H4 chart, after finishing the correctional downtrend, XAUUSD is trying to form the second wave to the upside. Convergence on MACD is another signal that the correction is over. In this case, the next upside targets may be 61.8% and 76.0% fibo at 1908.00 and 1969.50 respectively. The key support is at 1721.65.

GOLD_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, the first rising wave after convergence on MACD has reached 50.0% fibo and may later continue towards 61.8% and 76.0% fibo at 1829.35 and 1847.30 respectively. The key upside target is the current high at 1877.09, while the support is at 1752.50.

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, the asset is forming a wide sideways channel. After testing 61.8% fibo several times, the price has failed to reach 76.0% fibo at 0.9154. The pair’s future movement depends on a breakout of either support or resistance at 0.9085 and 0.9374 respectively.

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

In the H1 chart, after growing and reaching 61.8% fibo, USDCHF is falling towards the low at 0.9157. At the same time, there is convergence on MACD, which may hint at a reversal and a new growth to reach 76.0% fibo at 0.9322.

USDCHDF_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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