On the daily chart, EUR/USD managed to rise above resistance at 1.1750 and lead the pair out of the medium-term consolidation range (1.15-1.1750).
XAU/USD: gold is wandering through channels
BUY $1344 SL $1329 TP $1374 TP2 $1390 TP3 $1410
SELL $1320 SL $1335 TP1 $1290 TP2 $1270
On the daily chart XAU/USD, a rebound from the bottom line of the uptrend channel allowed gold to hope for the bullish trend’s recovery again. Nevertheless, if a repeated test of the support at $1320 an ounce succeeds, risks of correction will increase.
On H1, there is a transformation of the “Shark” pattern in 5-0. A successful break of the support at $1329.5-1330.5 will activate a bearish trend. A necessary condition for the recovery of the bullish trend is the return of gold to the previous uptrend channel.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrow channel Tenkan-Kijun.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.
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...