XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has broken the previous significant high and may continue the ascending tendency in the shirt-term. Right now, the pair is being corrected after the divergent and has already reached 23.6%. The next targets may be the retracements of 38.2%, 50.05%, and 61.8% at 1318.13, 1308.91, and 1299.74 respectively. The resistance is at 1348.20.
The H1 chart shows more detailed structure of the current descending tendency. The closest downside target is the retracement of 38.2% at 1318.13.
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCHF is steadily trading inside the long-term downtrend. By now, the pair has almost reached the retracement of 38.2%. The next downside target may be the retracement of 50.0% at 0.9712. The current movement may be considered as a short-term correction. The resistance is at 0.9989.
As we can see in the H1 chart, the pullback has reached the retracement of 38.2%. The next upside targets may be the retracements of 50.0% and 61.8% at 0.9976 and 1.0005 respectively. if the instrument breaks the low at 0.9854, the downtrend will continue.