XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after breaking 38.2% fibo, XAUUSD transformed the correctional uptrend into a proper rising wave with the target at 1557.00. By now, the pair has already reached 61.8% fibo and may later continue moving towards 76.0% fibo at 1530.10. The support is 38.2% fibo at 1488.16.
In the H1 chart, after reaching 61.8% fibo, the pair is testing it. In this case, the price is expected to start a new pullback towards 38.2% fibo at 1488.15.
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, after completing the short-term correction and starting a new descending wave, USDCHF has broken 76.0% fibo; right now, it is moving towards the fractal low at 0.9660. at the same time, there is a convergence on MACD, which may indicate a new pullback after the pair reaches the low. The closest correctional target is 50.0% fibo at 0.9844.
As we can see in the H1 chart, the instrument has broken 76.0% fibo. The next downside target is the low at 0.9660.