XAU USD, “Gold vs US Dollar”
As we can see at the H4 chart, after a slight correction, the XAU/USD pair started forming a new impulse, which has already broken the post-correctional extension area between the retracements of 138.2% and 161.8%. The next upside target may be the retracement of 261.80% at 1355.00. At the same time, we can see the divergence being formed, that’s why after reaching the target the instrument may start a new correction.
At the H1 chart, possible targets of the possible correction in the future may be the retracements of 38.2% and 50.0% at 1326.90 and 1309.50 respectively
USD CHF, “US Dollar vs Swiss Franc”
As we can see at the H4 chart, the USD/CHF pair is forming a new descending impulse towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.9644 and 0.9609 respectively. The next downside target may be at 0.9569. However, we can see the convergence being formed, that’s why the instrument may start a new pullback after reaching its downside targets.
At the H1 chart, the pair is trading downwards steadily. After finishing the downtrend, the price may start a new ascending correction. The targets of this correction may be the retracements of 38.2%, 50.0%, and 61.8% at 0.9723, 0.9772, and 0.9821 respectively.
RoboForex Analytical Department