XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has reached the retracement of 38.2%, and right now one can see the divergence. The next upside target may be the retracement of 50.0% at 1262.85. The main support level is at 1183.22.
In the H1 chart, the divergence made the pair start a new descending movement. The possible targets may be the retracements of 23.6%, 38.2%, and 50.0% at 1229.15, 1220.50, and 1213.30 respectively.
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF has reached the post-correctional extension area between the retracements of 138.2% and 161.8% and right now once can see the divergence, which may indicate a possible pullback soon. At the same time, if the price breaks the high at 1.0026, the instrument may continue trading upwards to reach the retracement of 261.8% at 1.0129.
In the H1 chart, the divergence made the pair reverse and start a new decline to break the short-term support level at 0.9955. The downside targets are the retracements of 23.6%, 38.2% and 50.0% at 0.9912, 0.9841, and 0.9784 respectively.
