Fibonacci Retracements Analysis 14.08.2017 (GOLD, USD/CHF)

XAU USD, “Gold vs US Dollar”

As we can see at the H4 chart, after being corrected by 38.2%, Gold has broken the local high and reached the post-correctional extension area (the retracements of 138.2% - 161.8%). If the pair continues growing at the same pace, the target may be the retracement of 261.8% at 1310.39. At the same time, we can see that the price is forming the divergence, which may indicate a possible trend reverse.

At the H1 chart, Gold may finish the ascending impulse and may start another correction. The closest target of this possible descending correction is the retracement of 38.2% at 1276.51. However, later the price may continue forming this ascending impulse with the target at 1299.00 (the retracement of 161.8%.

USD CHF, “US Dollar vs Swiss Franc”

As we can see at the H4 chart, the USD/CHF has been corrected by 50%. The next upside targets may be at 0.9842 (the retracement of 138.2%), which is the same as the downside border of the post-correctional extension of the local decline. The upside target area is the retracement of 161.8% at 0.9888.

At the H1 chart, the pair is forming the convergence, which may indicate a new correction or a reverse. In the nearest future, the price may be corrected to the upside to reach the retracements of 38.2%, 50%, and 61.8% at 0.9654, 0.9676, and 0.9699 respectively.

RoboForex Analytical Department