Recommendation: BUY 0…
XAU/USD: gold is catching a bat
TP1 $1322 TP2 $1350
On the daily chart, XAU/USD bulls managed to lead the pair out of the upper border of the consolidation range between $1266 and $1288 an ounce. In order to count for the uptrend’s resumption, buyers need a successful test of $1300-1302.
On H1, the exit out of the 1266-1305 consolidation range will likely lead either to the formation of the “Bat” pattern with a target at 88.6% or the resumption in the medium-term downtrend.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…