XAU/USD: an attempt to recover
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
USD/JPY: intraday trading
Trade ideas
BUY 111.00; TP1 111.30; TP2 111.55; SL 110.90
SELL 110.55; TP1 110.30; TP2 110.10; SL 110.65
Volatility has greatly diminished in USD/JPY. The pair is consolidating in a narrow range on H4, and a breakout is coming. The US economic data due later today may act as a trigger. The overall trend is to the upside, but the pair is trading in the middle of the bigger range and may correct to the downside. As a result, both scenarios have almost equal probability.
Notice that on the upside, resistance is provided by the 200-day MA (111.30) and 110-day MA (111.55), while the 50-day MA acts as support (110.10).
Elizabeth Belugina
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XAU/USD: an attempt to recover
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
AUD/USD is looking down
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
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