What lies ahead for gold?
As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
EUR/JPY: euro faced with the wedge
2019-11-11 • Updated
Recommendations:
SELL 123,6 SL 124,15 TP1 122,25 TP2 120,8,
BUY 124,3 SL 123,75 TP1 125,2 TP2 128.
On the EUR/JPY daily chart, bears are preparing for the counterattack to stop the rally towards 161.8% target in the Crab pattern. If they succeed, the quotes will probably roll back towards the 23.6%, 38.2% and 50% levels of the CD wave.
On the EUR/JPY hourly chart, the expanding wedge pattern was formed. A return of quotes towards the level of 23.6% of the 4-5 wave will allow us to open short positions. In contrast, the euro upsurge towards 124.3 might lead to the uptrend restoration.
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