Gold is moving in channels

Gold is moving in channels

Recommendation:

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%.

 XAU1.png

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.

XAU2.png

Similar

EUR/USD is at the key support

EUR/USD is still supported by the 200-week MA at 1.1310. The pair came to the support line connecting November lows for the third time

Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp

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