XAU USD, “Gold vs US Dollar”
At the H4 chart, the downtrend continues. The support level is still the local low at 1260.90. If the XAU/USD pair breaks it, the instrument may move towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1243.30 and 1232.87 respectively.
As we can see at the H1 chart, the price has been corrected to the downside by almost 50.0%. The closest target of the short-term downtrend may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 1255.90 and 1251.00 respectively. However, it may happen only after the instrument breaks the local low at 1263.80.
USD CHF, “US Dollar vs Swiss Franc”
At the H4 chart, the uptrend continues. The USD/CHF pair has already been corrected to the upside by 61.8% and may continue growing towards the retracements of 76.0% at 1.0125.
As we can see at the H1 chart, the pair has completed the ascending impulse and right now is being corrected to the downside in the form of the Flag pattern. After breaking the high at 1.0039, the instrument may continue growing towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.0076 and 1.0100 respectively.
RoboForex Analytical Department