XAU/USD: a short-term trade
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
USD/CAD: bears want revenge
Recommendation: SELL 1.3265 SL 1.332 TP1 1.3165 TP2 1.3125 TP3 1.3045
On the daily chart, USD/CAD reached 127.2% and 200% targets of the senior and junior AB=CD. This increases the risks of a reversal. Formation of the “Three moves” pattern points to a potential correction.
On H1 of USD/CAD, there’s a “Spike and reversal with acceleration” pattern. A successful break of a trendline of the spike stage will trigger a “Shark” pattern with targets at 88.6% and 113%. The necessary condition for a change in trend is a decline of the pair to the trendline of the initial stage.
王继强
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GBP/USD: levels to trade
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
AUD/JPY needs to decide
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XAU/USD: a short-term trade
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD: levels to trade
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
AUD/JPY needs to decide
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
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