Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
XAU/USD: bulls got carried away with their attack
BUY $1323 SL $1308 TP1 $1353 TP2 $1380
SELL $1314 SL $1329 TP $1284 TP2 $1266 TP3 $1237
On the daily chart, bulls managed to return XAU/USD to the uptrend channel. After that the pair formed a “Shakeout-Fakeout” pattern. This increases the risks of the bullish trend’s resumption. To begin with, buyers need to conquer resistance at $1321 an ounce. Their inability to do it will point at their weakness.
On H1, XAU/USD formed a “Spike and ledge” on the base of 1-2-3.
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...