Elliott Wave Analysis On USDCHF And GOLD
USDCHF
USDCHF was trading sharply lower for the last week or so, after pair completed wave 4) corrective rally near 0.9780. This recovery is part of a big ending diagonal that can be now coming to an end if we consider sharp turn up from the lower support line. As such, we suspect that low has been formed and that market will recover more in days ahead, even if just with three legs up to the upper trendline of a pattern.
USDCHF, 4H
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GOLD
Gold is moving sharply to the upside since end of last week, now trading at new highs after strong break above the upper triangle line connected from 1283. As such, we will look for more upside now, finally above 1300 and then even to 1320/1340 area that can be seen at start of this month. Current retracement may look for a support at 1283 or near 1270 swing.
GOLD, 4H
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