On the daily chart, EUR/USD managed to rise above resistance at 1.1750 and lead the pair out of the medium-term consolidation range (1.15-1.1750).
XAU/USD: gold is at the edge of abyss
TP1 1276 TP2 1244 TP3 1215
On the daily chart, XAU/USD is finishing a “Widening wedge”. After a pullback to 38.2% of the wave 4-5, bears returned the initiative and are ready to bring the pair outside of the medium-term consolidation range of 1302-1360.
On H1 of XAU/USD, the “Shark” pattern is transforming into 5-0. Pullbacks to 38.2% and 50% of the wave CD are usually used for selling. A break of support at 1302-1304 will trigger AB=CD pattern with a target at 200%.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrow channel Tenkan-Kijun.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.
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...