Fibonacci Retracements Analysis 19.02.2018 (GOLD, USDCHF)

19.02.2018

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is still forming the ascending impulse. After reaching the high, the pair was slightly corrected. In this case, there are two possible scenarios. According to the first scenario, the price may continue growing to break the high at 1366.04 and then trade to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 1388.00 and 1402.00 respectively. The second scenario suggests that the instrument may start a new descending impulse towards the retracement of 50.0% at 1301.08.

GOLD1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, the divergence made the pair start a short-term correction, which has already reached the retracement of 23.6%. In the future, the correction may yet continue towards the retracements of 38.2%, 50.0%, and 61.8% at 1342.44, 1336.53, and 1330.41 respectively.

GOLD2Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, one may see the convergence being formed along with a possible reverse. USDCHF may yet continue moving downwards to reach the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.9172 and 0.9120 respectively. In the future, the targets of the uptrend may be the retracements of 23.6%, 38.2%, 50.0%, and 61.8% at 0.9373, 0.9488, 0.9581, and 0.9673 respectively.

USDCHF1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, the situation is similar and confirms the scenario described above.

USDCHF2
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

RoboForex Analytical Department

 

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.