Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
XAU/USD: bears got out
TP1 $1237 TP2 $1212
On the daily chart, a break of XAU/USD below the lower border of a $1266-1288 consolidation range allowed bears to get out. The target of 78.6% of the Gartley pattern is almost reached. The next one is 200% target of AB=CD. As long as gold is below 1266, sellers retain control of the market.
On H1, the exit outside of the descending trend channel with the following test of resistance at $1252 creates grounds for a pullback. It should be used for forming short positions.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with expanding channel Tenkan-Kijun.
On the daily chart, bulls are trying to return USD/CAD inside the long-term uptrend channel.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...