XAU/USD: bears want more

XAU/USD: bears want more


SELL $1302

SL $1317

TP1 $1379 TP2 $1268

On the daily chart, bears managed to pull the pair below $1320.4-1321.6 an ounce. A break of the lower border of the uptrend channel will strengthen the risks of a pullback towards $1279 and $1268. On the other hand, recoil from support at $1302 will create grounds for consolidation in the $1300-1350 area.


On H1, XAU/USD has reached the targets of “Spike and reversal with acceleration”. Correction towards targets at 88.6% and 113% of the Shark pattern continues.



GBP/USD: market waiting for the Bulls

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the market is still on the support of the Cloud.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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