AUD/NZD experienced an impressive rally since the end of March.
XAU/USD: gold votes for consolidation
TP1 1.332 TP2 1340 TP3 1365
On the daily chart of XAU/USD, there is consolidation in the range of 1302-1340 within the “Spike and ledge” pattern on the base of 1-2-3. A break of the bottom line will increase risks of decline to the 88.6% target of the “Bat” pattern. Vice versa, a successful hit of the resistance at 1340 may lead to a recovery of the uptrend.
On H1, a realization of “Head and shoulders” and AB=CD patterns is continuing. If the pair reaches the 161.8% target of the AB=CD pattern, reversal risks will increase.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…