- Aug 6, 2019
Fibonacci Retracements Analysis 10.02.2020 (GOLD, USDCHF)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after re-testing 38.2% fibo, XAUUSD has stopped the descending wave in order to start a new correctional uptrend. One of the possible scenarios implies that the pair may break the current high at 1611.29 and reach the post-correctional extension area between 138.2 and 161.8% fibo at 1599.45 and 1625.70 respectively. However, the major scenario suggests that the instrument may continue its decline towards 50.0% and 61.8% fibo at 1530.60 and 1511.80 respectively.
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