After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
XAU/USD: gold is counterattacking
TP1 1250 TP2 1263 TP3 1287
On the daily chart, XAU/USD pulled back after reaching 113% target of the “Double top”. Bulls are trying to move gold towards 23.6%, 38.2%, and 50% of the wave CD.
On H1, bulls managed to trigger “Crab” pattern with the target at 161.8%. Buyers want to return gold to the previous consolidation range of 1205-1235. To trigger a “Shakeout-Fakeout”, gold has to pull back to its middle (1220).
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.