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: yen got to the corridor
Recommendation:
BUY 112.15 SL 111.6 TP1 113.15 TP2 113.65 TP3 115.65
SELL 109.75 SL 110.3 TP1 108.75 TP2 108.5 TP3 107.85
On the daily chart, USD/JPY is consolidating in the 109.75-112.15 range within the “Spike and ledge”. Bulls are trying to keep the pair above the upper border of the long-term downtrend channel and trigger a “Shark”.
On H1, the decline below support levels at 110.70 and 109.15 will make USD/JPY go down to 161.8% of the “Crab”. On the other hand, a break of resistances at 111.75 and 112.15 will open the way up to the targets of “Wolfe waves” and “Shark”.
Ivan Karamazov
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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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