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: yen can strengthen
TP1 107.4 TP2 106.75 TP3 106.05
On the daily chart of USD/JPY, the “Shark” pattern is transforming into 5-0. After a correction to 50% of the wave CD, an advance above May high will open the way up to the pair. On the other hand, a break of diagonal support (the lower border of the uptrend channel) and the triggering of the “Bat” pattern will increase the odds of it reaching 88.6% target.
On H1, a decline below support at 108.40 will trigger a “Head and Shoulders” pattern and AB=CD will allow bears to develop their attack.
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.