Latest News

Fibonacci Retracements Analysis 17.01.2022 GOLD, USDCHF

XAUUSD, Gold vs US DollarAs we can see in the daily chart, XAUUSD is forming another rising wave within the uptrend after convergence on MACD; the previous wave has tested 50.0 fibo. In this case, the pair is expected to continue the uptrend to reach 61.8 and 76.0 fibo at 1908.00 and 1969.50 respectively. The key support remains at the low at 1638.76.The H1 chart shows a correction to the upside; its been the third time the price is trying to test and break 61.8 fibo. After breaking this level, the asset may grow to reach 76.0 fibo at 1847.30 and then the local high at 1877.09. The local support is at 1752.50.USDCHF, US Dollar vs Swiss FrancAs we can see in the H4 chart, the asset has rebounded from the support at 0.9085 and may soon start a new correction before another attempt to attack the support. If the pair finally breaks it, the price may continue falling towards the postcorrectional extension area between 138.2 and 161.8 fibo at 0.8975 and 0.8907 respectively. The key resistance is the high at 0.9374.The H1 chart shows that the pair is moving upwards after convergence on MACD; it has already reached 23.6 fibo and may later continue towards 38.2, 50.0, and 61.8 fibo at 0.9200, 0.9233, and 0.9266 respectively. The local support is the low at 0.9092.

You may also like

Leave a reply

Your email address will not be published.

More in Latest News