Fibo Analysis for GOLD and USDCHF: 25/03/2019
GOLD
On H4, the gold is forming a correction uptrend, which reached 50% Fibo. The next targets may lie at 61.8%, or $1,321.43, and at 76%, or $1,330.74. The major support is meanwhile at $1,280.71. If it gets broken out, the price may hit the midterm 50% level, or $1,271.50.
On H1, another upward move is forming after the pullback. Once the local high at $1,320.34 gets broken out, the price is likely to reach the range of 138.20% to 161.80% Fibo, or $1,326.85 to $1,330.85. The major support is meanwhile at the low, or $1,303.25.
USDCHF
On H4, the USDCHF is falling, having reached 23.60% Fibo. The price is starting a long term downtrend, with the next target at at 38.2%, or 0.9782. The resistance is meanwhile at the 1.0149 high.
On H1, the USDCHF is correcting upwards. The correctional trend reached 23.6o% Fibo and may move to 38.20% (0,9982) and 50% (1.0009).
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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