XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, divergence on MACD made the pair start a new decline, which was pretty short. This situation may imply a new wave to the upside towards 61.8% and 76.0% fibo at 1853.18 and 1876.50 respectively. However, the key upside targets are the high and the mid-term 61.8% fibo at 1916.52 and 1922.50 respectively. The support is the low at 1750.58.
In the H1 chart, convergence on MACD made XAUUSD grow and test 50.0% fibo at 1811.84. A further uptrend will be heading towards 61.8% and 76.0% fibo at 1817.19 and 1823.28 respectively. At the same time, the key upside target is the local high at 1833.83. The support is at 1790.05.
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, divergence on MACD prevented the pair from breaking the high at 0.9275 and made it start a new correction to the downside, which may transform into a proper descending wave towards 50.0%, 61.8%, and 76.0% fibo at 0.9101, 0.9060, and 0.9010 respectively. A breakout of the key support at 0.8926 may lead to a further downtrend towards the long-term lows.
The H1 chart shows the second descending wave after a test 76.0% fibo at 0.9237 and divergence on MACD. The downside target is the support is at 0.9118.