Fibo Analysis for GOLD and USD/CHF: Sep 17, 2018

GOLD

On H4, gold is moving inside a correctional range after hitting 23.60% Fibo. The primary 50% impulse has been corrected, and the price may now head to 61.80 at $1,180.80. After hitting the current high at $1,214.28, the price may correct upwards to 38.20%, or $1,238.40, and 50.00%, or $1262.50.

On H1, gold is moving down, heading towards the local low at $1.187.67. Once this level gets broken out, the price is likely to go down to reach the post-correctional range of 138.20-161.80% Fibo, or $1,178.15 to $1,172.00.

USD/CHF

The USD/CHF is heading down on H4 within the midterm downtrend, approaching 50.00% Fibo, or 0.9628. After hitting the local low, the price may further go down to the post correctional extension between 138.20% and 161.80%, or 0.9596 to 0.9568, with the resistance being at the 0.9759 high.

On H1, one can watch USD/CHF downtrend in a more detailed way.