Bullish Ichimoku Cloud, but falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with extremely falling lines.
XAU/USD: gold is painting a wedge
Recommendation: SELL $1267 SL $1281 TP1 $1237 TP2 $1212
On the daily chart, XAU/USD keeps fighting for an important level of $1281 an ounce. If the bulls manage to leave the descending trend channel and settle above it, gold will get chance to get to $1299 and $1321. On the other hand, bears’ victory will increase the odds of the pair getting to 78.6% and 200% of Gartley pattern and AB=CD.
On H1, wait for formation of the wave 4-5 within the widening wedge. Decline below support at $1267 will signal downtrend’s resumption.
On the daily chart of AUD/USD, after the pair reached the 88.6% target of the "Shark" pattern, a logical pullback happened.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...