On the daily chart, EUR/USD managed to rise above resistance at 1.1750 and lead the pair out of the medium-term consolidation range (1.15-1.1750).
Gold: will Bears manage to restore the downtrend?
SELL $1208 SL $1218 TP1 $1188 TP2 $1160,
BUY $1225 SL $1215 TP $1235.
On the daily chart of gold, Bulls managed to repeal the Bears’ attack on the support at $1209. The recent rebound tells us about the Bears’ weakness. A retest of the support at $1209 will lead to the continuation of the rally towards $1189, $1160 and $1142 (target 88.6% of the Bat pattern).
On the hourly chart of gold, a break of the support at $1225 will activate the Head and shoulders inverted pattern and increase the risks for the correction towards $1235 and $1244. For the restoration of the downtrend, bears need to send the quotes below $1208.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrow channel Tenkan-Kijun.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.
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...