USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
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).
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.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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