USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
XAU/USD: gold made a trap from wedges
TP1 1332 TP2 1352 TP3 1362
On the daily chart of XAU/USD, a break of the lower border of the downtrend channel will increase the risks of a “Broadening wedge” formation and trigger the “Shark” pattern. Its 113% target allows distinguishing an important support level near 1302.
On H1, XAU/USD may trigger the junior and the senior “Broadening wedge” patterns. As a result, the risks of correction increase. On the other hand, a pullback from support near the 113% target of the “Shark” will allow the bulls to counterattack.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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