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 has a chance
SELL 108.35 SL 108.90 TP1 107.2 TP2 106.95 TP3 106.05
BUY 109.05 SL 108.5 TP1 109.95 TP2 110.3 TP3 111.15
On the daily chart of USD/JPY, a “Shark” is transforming into 5-0. Pullbacks towards 23.6%, 38.2% and 50% of the wave CD are usually used for opening long positions. A decline below 78.6% and 88.6% signals the resumption of the long-term downtrend.
On H1, USD/JPY bulls are getting ready to form the reversal pattern “Wolfe waves” and try to resume the short-term uptrend with its help. On the other hand, a break below support at 108.35 will open the way down to the pair.
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.