Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
XAU/USD: gold fights for an initiative
BUY 1233 SL 1218 TP1 1248 TP2 1270 TP3 1288
SELL 1214 SL 1229 TP1 1190 TP2 1182
On the daily chart of XAU/USD, the pair reached the 88.6% target of the “Shark” pattern. As a result, risks of the pullback to 23.6%, 38.2% and 50% from the CD wave increased. If bulls fail to counterattack, it will signal their weakness and will let bears pull the pair to 113% target of the “Shark” pattern.
On H1, if the pair reaches the 61.8% target, there is a possibility of a transformation of the “Shark” pattern to 5-0. If bears break the support at 1,214, they will be able to continue the downward movement.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
There are many things happening in the UK. What is the strategic outlook for the GBP?
The Australian dollar set a strong upward trend over a month. Will AUD loose its gains soon?