Fibonacci Retracements Analysis 03.10.2017 (GOLD, USD/CHF)

XAU USD, “Gold vs US Dollar”

At the H4 chart of the XAU/USD pair, the price is still moving to the downside towards the retracement of 61.8% at 1263.60. The next target is the retracements of 76.0% at 1241.60. In addition to that, the pair is forming the convergence, which may indicate a possible reverse or a correction. The main target of this possible correction is the retracement of 50.0%.

At the H1 chart, the pair is expected to reach 1263.60 and then start a new ascending correction. The targets of this correction may be the retracements of 23.6%, 38.2%, 50.0%, and 61.8% at 1275.44, 1283.00, 1289.30, and 1295.46 respectively.

USD CHF, “US Dollar vs Swiss Franc”

As we can see at the H4 chart, the USD/CHF pair has already been corrected by 38.2%. The next targets of this ascending movement may be the retracements of 50.0%, 61.8%, and 76.0% at 0.9880, 0.9986, and 1.0120 respectively. The support level is at 0.9420.

At the H1 chart, the pair is forming the divergence, which indicates that the pair is expected to start trading to the downside. The predicted targets of the correction are inside the area between the retracements of 23.6% and 61.8% at 0.9700 and 0.9561 respectively.

RoboForex Analytical Department