Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen.
Gold: step forward, two backwards
On the daily chart of gold, the exit of quotes from the triangle allowed the Bulls to return to the upward trading channel. If buyers fail to gain a foothold there and push the quotes towards the support at $1256 will tell us about their weakness and open the way towards $1240-1245. For continuation of the rally, the Bulls need to update the May high.
On the hourly chart of gold, a breakout of support at $1,260 will allow the Bears to return quotes within the borders of the triangle and activate the Shark pattern. Its targets are located near the marks of $1,250 and $ 1,245.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising lines.
On the daily chart of USD/JPY, a break of the support at 112.85 and an exit out of the upward channel may mean an implementation of reversal 1-2-3 and "Three Indians" patterns.
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...