The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
XAU/USD: gold chose direction
TP1 $1237 TP2 $1212
On the daily chart, inability of bulls to conquer resistance at $1299-1302 an ounce with the following return of the price inside the $1266-1288 consolidation range points at buyers’ weakness. As a result, risks of the price reaching 78.6% and 200% targets of “Gartley” and AB=CD increased.
On H1, gold’s going outside of the short-term uptrend channel with the following retest of diagonal resistance confirms that bears are serious.
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…