USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01.
XAU/USD: gold is lying on the shelf
TP 1250 TP2 1270 TP3 1289
On the daily chart, after XAU/USD had reached 88.6% target of the “Shark” pattern there was a natural pullback. Bears are counting on the decline to the 113% target. For that, they have to pull the price below July low.
On H1, there’s a “Spike and ledge” pattern on the basis of 1-2-3. A break of the upper border of the 1218-1235 consolidation range will trigger a butterfly pattern with a target at 127.2%. On the other hand, a successful test of 1218 will open the way to the 127.2% target of AB=CD.
The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…