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/USD: euro is on the edge
TP1 1.1525 TP2 1.14 TP3 1.1295
On the daily chart of EUR/USD, bears counterattacked and are ready to renew May low. In this case, the pair will trigger the junior AB=CD pattern with targets at 127.2%, 161.8% and 200% and the senior “Shark” pattern with a target of 88.6%.
On H1, EUR/USD is near the convergence area (88.6% target of a “Shark”). This increases the risks of a pullback towards 23.6%, 38.2% и 50% of the wave CD. Use the correction for selling.
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.