Fibonacci Retracements Analysis 08.08.2017 (GOLD, USD/CHF)

XAU USD, “Gold vs US Dollar”

As we can see at the H4 chart, Gold formed the divergence and then started a new descending correction or maybe even a reverse. The previous ascending impulse has been already corrected by 23.6%. The next targets may be the retracements of 38.2% and 50% at 1247.60 and 1239.81 respectively.

At the H1 chart, the situation is pretty similar.

USD CHF, “US Dollar vs Swiss Franc”

At the H4 chart, the correction reached the target at the retracement of 50%. The next upside targets may be the retracements of 161.8% at 0.9796 and 61.8% at 0.9844.

As we can see at the H1 chart, the pair is forming the divergence, which may be followed by a new correction or a reverse. In the nearest future, the price may yet reach 0.9796, but later it may be corrected towards the retracements of 38.2%, 50%, and 61.8% at 0.9657, 0.9615, and 0.9574 respectively.

RoboForex Analytical Department