USD/CAD: bulls pull the pair up
On the daily chart of USD/CAD, the implementation of the "Bat" and AB=CD patterns continues.
Gold: bulls started to lose
Recommendation:
SELL $1263
SL $1273
TP $1248.
On the daily chart, bulls keep trying to return the prices inside the previous uptrend channel. Gold price formed an inside bar and doji. This points at uncertainty. Buyers’ success will allow us to expect a resumption of an uptrend, while their failure will trigger a correction.
On H1, the prices reached 200% target of AB=CD and finished forming the “Widening wedge” pattern. The break of support at $1263 an ounce will open the way down to $1257 and $1248.
Ivan Karamazov
Similar
XAU/USD: the gold is strong
On the daily chart of XAU/USD, the rebound from the support at 1,239 helped to open long positions.
AUD/USD: the AUD plans its further movements
On the daily chart of AUD/USD, the implementation of the purple "Shark" pattern with the 88.6% target continues.
Latest news
GBP/USD: confirmed "Thorn" pattern
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF: time to correct?
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
EUR/USD: "Tweezers" on 34 Moving Average
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
Deposit with your local payment systems
