rfxsignals June 4, 2019 No Comments

Fibonacci Retracements Analysis 04.06.2019 (GOLD, USDCHF)

03.06.2019

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the pair is quickly trading upwards to update the high at 1346.68. Right now, XAUUSD is getting closer to the retracements of 61.8% at 1315.80.the next upside target may be the retracement of 76.0% at 1327.35. The support is at 1266.23.

GOLD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is rising steadily. The closest target is the retracement of 61.8% at 1315.80. The support level is the retracement of 38.2% at 1297.00.

GOLD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

In case of the USDCHF, the after reaching the long-term retracement of 23.6%, USDCHF is trading close to 1.0000. The next downside target may be the retracement of 38.2% at 0.9836. At the same time, there is a convergence on MACD, which may indicate a possible pullback.

USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is starting a new short-term rising correction. The upside targets may be the retracements of 23.6%, 38.2%, and 50.0% at 1.0002, 1.0020, and 1.0035 respectively. The local support is the low at 0.9972.

USDCHF_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future