On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.
XAU/USD: gold is resuming the uptrend
BUY 1365 SL 1350 TP1 1395 TP2 1410 TP3 1425
BUY 1340 SL 1325 TP1 1380 TP2 1395 TP3 1410
On the daily chart of XAU/USD, the inability of bears to pull the pair below the support at 1302-1308 points at their weakness. Bulls managed to lead gold outside of the consolidation range of 1308-1340. This increases the odds of an advance towards 113% and 127.2% targets of the “Shark” and AB=CD.
On H1, XAU/USD formed a “Crab”. Advance above resistances at 1361 and 1365 will open the way up to 161.8%.
USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.
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.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…