XAU USD, “Gold vs US Dollar”
At the H4 chart of the XAU/USD pair, the uptrend continues as the new ascending impulse has entered the post-correctional extension area. Also, the price is forming the divergence, which may indicate a possible reverse or a correction. However, after finishing the local correction and breaking the local low at 1325.68, the instrument may reach the retracement of 261.8% at 1343.00.
As we can see at the H1 chart, the previous ascending impulse has already been corrected by 38.2%. the next targets of the correction may be the retracements of 50.0% and 61.8% at 1300.58 and 1294.58 respectively.
USD CHF, “US Dollar vs Swiss Franc”
As we can see at the H4 chart, the USD/CHF pair has tested the local low at 0.9430 and broken it. The next downside targets may be inside the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.9320 and 0.9245 respectively.
At the H1 chart, the pair reached the low, formed the convergence, and then started a new ascending correction, which has already reached the retracement of 38.2%. The next targets of the correction may be the retracements of 50.0% and 61.8% at 0.9596 and 0.9638 respectively.
RoboForex Analytical Department