XAU USD, “Gold vs US Dollar”
At the H4 chart, the divergence made the XAU/USD pair start a new descending correction. The targets are the retracements of 23.6%, 38.2%, and 50.0% at 1319.17, 1303.11, and 1290.61 respectively.
At the H1 chart, the pair may move towards the local high at 1344.64. After breaking it, the price may grow towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1352.20 and 1357.10 respectively.
USD CHF, “US Dollar vs Swiss Franc”
At the H4 chart, the downtrend continues. Apart from this, we can see the convergence being formed, which may indicate a possible reverse. The next downside targets are the local low at 0.9536 and inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.9495 and 0.9471 respectively.
As we can see at the H1 chart, after reaching the targets, the pair may start trading towards the area between the retracements of 23.6% and 50.0%. The main target is at 0.9724.
RoboForex Analytical Department