USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
XAU/USD: gold rebounded from the bottom
TP1 1288 TP2 1301 TP3 1316
On the daily chart, XAU/USD pulled back after reaching 224% and 88.6% targets of AB=CD and “Double top”. To continue the rally towards the lower border of the uptrend channel, bulls need to conquer resistance at 1268.
On H1, a break of resistance at 1266-1268 will open the way up to the upper border of the downtrend channel and 88.6% target of the “Shark” at 1301.
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...