NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
XAU/USD: bears are armed with a wedge
SELL 1290 SL 1305 TP1 1272 TP2 1244
BUY 1300 SL 1285 TP1 1324 TP2 1333 TP3 1349
On the daily chart, XAU/USD formed a “Broadening wedge”. To continue the decline towards 50% and 61.8% of the last long-term bullish wave, the pair has to renew June low.
On H1, XAU/USD formed a “Spike and ledge” on the basis of 1-2-3. A pullback from the upper border of the 1290-1307 consolidation range will be a signal for selling. On the other hand, a break to the middle of the ledge will trigger a bullish “Shakeout-Fakeout”.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...