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Fibonacci Retracements Analysis 08.11.2021 GOLD, USDCHF

XAUUSD, Gold vs US DollarOn D1, gold grew to 38.2 upon falling to 23.6. Such a technical picture can be interpreted as a correction after a convergence, but the correction can turn into a wave of growth. The next aims can be 50.0 1856.55, 61.8 1908.00, and 76.0 1969.50. However, the main goal is the alltime high of 2074.75. The current low of 1638.76 is the main support level.On H1, the quotations have risen above 76.0 1807.00 and are heading for the local high of 1833.94. A breakaway of this high will confirm the idea of further growth to mediumterm goals and the level of 50.0 1856.55 in particular.USDCHF, US Dollar vs Swiss FrancOn H4, the declining wave stopped somewhere near 76.0 Fibo. Current growth might be the beginning if a new wave of growth, aiming at the high of 0.9368. A breakaway of this will open a pathway to the postcorrectional extension area of 138.2161.8 0.94750.9543. The main support is at 0.9018.On H1, correctional growth after a convergence reached 23.6 Fibo. Further growth might aim at 38.2 0.9193, 50.0 0.9226, and 61.8 0.9260. A breakaway of the local support level at 0.9085 will mean the downtrend continues.

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