XAU/USD: a short-term trade
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
EUR/USD: the EUR is strengthening
Recommendation:
BUY 1.1445 SL 1.139 TP1 1.1545 TP2 1.159 TP3 1.169
On a daily chart of EUR/USD, there is a correction towards the downward middle-term trend as a part of the transformation of the "Shark" pattern into 5-0.
If the pair successfully breaks the resistance at 1.1445 (38.2% from the CD wave) the "Head and shoulders" pattern will be implemented. Bulls will have a chance to move the pair out of the downward channel and continue going up.
On H1, the break of the downward channel' upper border and successful test of the resistance at 1.1445 will increase the risks of the implementation of the 88.6% targets of the "Bat" and "Shark" patterns.
Ivan Karamazov
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XAU/USD: a short-term trade
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD: levels to trade
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
AUD/JPY needs to decide
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
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