Fibo Analysis for GOLD and USD/CHF: 24.09.2018

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 50.00%% ($1187.25) and 61.80% ($1,180.80).

USD/CHF

On H4, the USD/CHF is downtrending and approaching 61.80% Fibo (0.9525). Meanwhile, the convergence is forming, which mean the price may pull back to 23.60% (0.9648), 38.20% (0.9712), and 50.00% (0.9764), the support being at 0.9543.

On H1, the price has tested the post correctional extension at 138.20%-161.80% (0.9560-0.9537) with a new downtrend impulse, and may now get back to test it once more.