USD/CAD formed a “gravestone doji” candlestick on the W1 ahead of the 50-week MA (1.3280). Learn more!
Will EUR/USD reach 1.17?
TP1 1.1640 TP2 1.1695 TP3 1.1755
On the daily chart, EUR/USD bulls are trying to keep the pair above 1.1445 (50% of the long-term bullish wave). If they succeed, the pair will get a chance to form a senior “Shark” pattern. On the other hand, a break of support and the following decline to August low will trigger AB=CD with the target at 200%.
On H1, if EUR/USD exits the downtrend channel and tests resistance at 1.1540, bulls will be able to counterattack and form “Three Indians” pattern and the “Shark”.
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
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.
The US dollar is currently in a correction, but is likely to continue the trend down.
The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?