XAU/USD: let’s buy gold
On the daily chart of XAU/USD, the pair left the downward channel and reached targets of the “Spike and ledge” pattern.
EUR/JPY: bulls made a stop
Recommendation:
SELL 129.5, SL 130.05, TP1 128.5, TP2 127.95
BUY 130.2, SL 129.65, TP1 131.2, TP2 134.00
On the daily chart, EUR/JPY starts consolidating in the 128.5-131.3. If support at 128.5 fails, the pair may decline to 88.6% target of the “Shark” pattern.
On H1, if bulls fail to renew August high in the near term, “Shakeout-Fakeout” may form. The pair was trading in the 128.5-130.5 range for several weeks. Return to its middle will mean a false breakout.
Ivan Karamazov
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