EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
AUD/USD: bulls push the pair up
BUY 0.7085 SL 0.703 TP1 0.717 TP2 0.7215 TP3 0.7255
On the daily chart of AUD/USD, the 88.6% target of the "Shark" pattern was reached. As a result, the odds of the correction towards the 23.6%, 38.2%, 50% targets of the CD wave increased. The rebounds from these resistance levels may be used to open short positions. The update of the December's minimum will pull the pair down towards the 113% target.
On H1, if the resistance at 0.7085 is broken, the pair can make the reversal towards the 23.6%, 38.2% and 50% targets of the "Shark" pattern's CD wave.
USD/JPY is declining for the fifth day in a row. When the pair fell below 105.00, it entered a new, lower range.
The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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