The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
Gold is moving in channels
SELL 1311 SL 1326 TP1 1281 TP2 1272 TP3 1250
SELL 1280 SL 1295 TP1 1250 TP2 1244
On the daily chart of USD/XAU, bulls have to break resistance at 1302. Then the pair may leave the descending channel, trigger and form a “Shark” pattern with the target at 88.6%.
On H1, XAU/USD keeps forming 5-0, “Broadening wedge” and AB=CD. A pullback of the pair from the upper border of the downtrend channel will allow bears to resume the downtrend.
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 remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...