Fibo Analysis for GOLD and USD/CHF: July 16, 2018
GOLD
On H4, the gold has broken out both the local and the long term low at $1,236.50 with its new downward move. The further downward targets may lie in the post correctional range of 138.20 to 161.80% Fibo extensions, or between $1227.00 and $1220.80. The resistance is at $1265.90.
On H1, the price is start pulling back after a convergence. This pullback targets may be at the following Fibo retracement levels: 38.20% ($1,247.60), 50.00% ($1,251.10), and 61.80% ($1,254.60).
USD/CHF
The USD/CHF has broken out its latest key high on H4. The further rise targets may lie within the post correctional range between 138.20% and 161.80% Fibo, or between $1.0157 and 1.0220. The ascending trend is supported with 0.9851.
On H1, the USD/CHF is correcting towards 38.20% (0.9987), 50.00% (0.9963), and 61.80% (0.9938). The resistance is at 1.0068.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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