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Fibonacci Retracements Analysis 13.09.2021 GOLD, USDCHF

XAUUSD, Gold vs US DollarIn the H4 chart, after breaking 61.8 fibo and failing to reach 76.0 fibo at 1850.00, the asset has started falling due to divergence on MACD. This movement may be the start of a new midterm descending wave towards the low at 1638.76, a breakout of which may lead to a further downtrend to reach 50.0 fibo at 1617.00.As we can see in the H1 chart, the first descending wave is testing 23.6 fibo. The next downside target is 38.2 fibo at 1759.40. At the same time, a breakout of the current high at 1833.94 will result in a further rising tendency.USDCHF, US Dollar vs Swiss FrancIn the H4 chart, USDCHF continues forming the rising impulse to reach the high at 0.9275, a breakout of which will lead to a further uptrend towards the postcorrectional extension area between 138.2 and 161.8 fibo at 0.9373 and 0.9433 respectively. on the other hand, the asset may rebound from the high and start a new decline towards the fractal support at 0.9018.The H1 chart shows that the pair is approaching the local resistance at 0.9242.

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