The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
XAU/USD: bears prepare a trap
TP1 $1237 TP2 $1212
On the daily chart, XAU/USD is retesting the lower border of the previous consolidation range of $1264-1298 an ounce. To return inside it, bulls need to overcome resistance at $1264-1267. On the other hand, a pullback will create grounds for the current downtrend’s resumption towards 200% target of AB=CD.
On H1, XAU/USD keeps retracing the current downtrend in the direction of convergence area near $1267 an ounce. A pullback will create an opportunity for short positions.
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…