Last week NZD/USD made a significant thrust to the downside.
Gold needs the correction
Recommendations: SELL $1260 SL $1280 TP1 $1230 TP2 $1220.
On the daily chart of gold, the formation of a double top and the inability of the "Bulls" to test the resistance at $1,280 tell us about weakness. A successful test of the convergence area $1245-1255 will allow the Bears to develop a correction.
On the hourly chart of gold, there are Fakeout-shakeout and Head and shoulders patterns. A false breakout of the upper border of the consolidation channel $1248-1274 with the subsequent return of quotes to its middle area shows that Bears are ready to attack. A breakout of the neckline will give us a signal for this attack.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
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.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…