AUD/NZD experienced an impressive rally since the end of March.
XAU/USD: bears play false
TP1 1374 TP2 1394
On the daily chart of XAU/USD, bears are trying to form the “Shakeout-Fakeout” pattern as the pair could not break the upper boundary of 1302-1340 consolidation. To implement it the pair has to break the support at 1321. Vice versa, the hit of resistances at 1340 and 1345 will let bulls to hope on the continuation of the rally to 113% and 127.2% targets of “Shark” and “AB=CD” patterns.
On H1, the implementation of the “Butterfly” pattern will increase risks of the sharp decline. To resume the uptrend bulls should break the resistance at 1345.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…