GOLD
The H4-chart of GOLD shows that the upward movement continues. The nearest target is Fibo 50.0% (1251.21). The next target for the price is 1261.69 (Fibo 61.8%).
The H1-chart of GOLD confirms continuation of the ascending impulse towards 1251.21. The local low at 1237.35 serves as a support for the uptrend.
USD/CHF
Looking at the H4-chart of USD/CHF we can see a convergence being developed. But the current descending impulse can be extended to 0.9460 mark which corresponds to 161.8% elongation level. If this target is achieved, the price can move higher as a correction descending impulse. A range formed by 50.0% and 76.0% Fibo levels (0.9611 and 0.9688 marks) can be a target for this correction move. But at the same time another scenario can occur: downward move towards 0.9314 mark (261.8% Fibo level).
Looking at the H1-chart of USD/CHF we can see that after the new descending impulse had been formed, the pair formed a new descending impulse which reached 138.2% postcorrection level. The Fibo 161.8% level can be the nearest target for the current downtrend. After the current descending impulse is over, the area bounded by 38,2% and 61,8% Fibo levels (0.9553 and 0.9609 marks) can be a possible target for an upward correction move.
