XAUUSD, “Gold vs US Dollar”
On H4, the quotations are bouncing after a decline and a test of the low area at 1676.78. We can expect further growth and the extension of the correctional phase with the aims of 38.2% (1785.00), 50.0% (1818.15), 61.8% (1851.32). When the correction is over and the low is broken away, the decline will continue towards the medium-term goal of 50.0% (1617.50).
On H1, a new wave of growth has reached 61.8% Fibo of the preceding decline. After a short-term pullback, growth to 76.0% (1736.90) and then the local high of 1755.52 should follow.
USDCHF, “US Dollar vs Swiss Franc”
On H4, the quotations demonstrate further development of the uptrend. The quotations are aiming at 50.0% (0.9496) Fibo. As long as there is a divergence forming on the MACD, we should expect a correctional decline. The main goals of the correction are 23.6% (0.9348), 38.2% (0.9256), and 50.0% (0.9183).
On H1 of USDCHF, the wave of growth after a correction reached the post-correctional extension area of 138.2-161.8% (0.9438-0.9477) Fibo. The local divergence became a signal for a short-term pullback, and the first impulse of the decline reached 23.6%. Further decline might reach 38.2% (0.9377) and 50.0% (0.9347). The resistance level is 0.9473.
