GOLD
On the H4-chart of GOLD we can see that the uptrend is being developed and a pre-reversal divergence is being built. After a short-term throwback the ascending impulse hit 138.2% level. 1268.00 and 1274.00 levels can be the next targets for this rising move. If those levels are achieved and the current divergence is completed, a correction move towards 23.6% Fibo (1257.21) can be expected. Then GOLD can move lower to reach 38.2% (1246.92).
The H1-chart of GOLD confirms a possible further rise towards 1268.00 and 1274.00 levels. But in the short term a throwback towards 1256.81 (Fibo 38.2%) can also be taken into account.
USD/CHF
Looking at the H4-chart of USD/CHF pair, we see the start of an ascending correction after a prolonged downtrend. At the moment the pair has corrected by Fibo 23.6%. The next target is 0.9688 level (38.2%).
H1-chart of USD/CHF: after the correction move occured, there is a new ascending impulse being developed. If the local high 0.9593 is broken, price can move higher to reach 0.9658 level which corresponds to 161.8% Fibo elongation.
