XAU USD, “Gold vs US Dollar”
At the H4 chart, after breaking the local highs, the XAU/USD pair continues forming a mid-term correction. The correction has already reached the retracement of 38.2%. The next possible targets may be the retracements of 50.0% and 61.8% at 1308.60 and 1320.20 respectively.
As we can see at the H1 chart, after being corrected to the downside, the pair started forming a new ascending impulse and has already reached the post-correctional extension area between the retracements of 138.2% and 161.8% at 1294.90 and 1298.65 respectively. One of the main closest targets is the retracement of 261.8% at 1312.75.
USD CHF, “US Dollar vs Swiss Franc”
At the H4 chart, the local correction continues. By now, the USD/CHF pair has already been corrected by 23.6%. The next targets of this correction are the retracements of 38.2% and 50.0% at 0.9803 and 0.9728 respectively. After finishing the correction, the instrument may resume growing towards 1.0123.
At the H1 chart, the current situation is the same.
RoboForex Analytical Department