XAU/USD: gold chose direction

XAU/USD: gold chose direction

Recommendation:

SELL $1266

SL $1281

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.

XAU1.png 

On H1, gold’s going outside of the short-term uptrend channel with the following retest of diagonal resistance confirms that bears are serious.

XAU2.png

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NZD/USD: bears are hunting a crab

On the daily chart, NZD/USD reached 88.6% target of the “Bat”. This increases the possibility of a pullback to 23.6%, 38.2% and 50% of the wave CD.

nzd
GBP/USD: pound going lower

Bearish Ichimoku Cloud with falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the market breaking down the main daily supports and will continue the downtrend.

gbp

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