Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
XAU/USD: gold is falling into abyss
TP1 $1237 TP2 $1222 TP3 $1212
On the daily chart, the inability of bulls to overcome resistance at $1299-1302 an ounce points at their weakness. If sellers manage to trigger AB=CD, risks of continuation towards the 200% target will significantly increase.
On H1, gold is correcting as the “Shark” pattern is transforming into 5-0. If bears want to return the quotes to support levels at 78.6% and 88.6% and conquer them, the continuation of the downtrend will become a reality.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
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.
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