XAU/USD: an attempt to recover
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
EUR/NZD may test the uptrend
Trade ideas
BUY 1.7060; TP1 1.7130; TP2 1.72; SL 1.7040
BUY 1.7140; TP 1.7200; S: 1.7120
SELL 1.7040; TP 1.6990; SL 1.7055
Have a look at the pair EUR/NZD as it might present some interesting trade ideas. The pair’s been in an uptrend since the end of March. Last week, it reached resistance around 1.72 (January high) and then turned down forming a doji with a longer upper wick on W1.
It means that the air will likely test the uptrend support line at 1.7065/50 in the short-term. If the pair manages to rebound from this level, it will get a chance to revisit 1.7200. Conservative buyers may enter above 1.7140. However, the ADX indicator shows that the uptrend is losing strength. Still, as long as the trend is intact there are bigger odds that it will continue. A decline below 1.7050 will open the way down to 1.6990 (50-week MA) and probably 1.6925 (200-day MA).
Elizabeth Belugina
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XAU/USD: an attempt to recover
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
AUD/USD is looking down
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
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