Recommendation: BUY 0…
XAU/USD: gold was captured by bulls
TP $1357 TP2 $1395
On the daily chart, XAU/USD is under control of bulls, at least until the pair’s trading above $1306 an ounce. A break of this level will increase the risks of the reversal “Widening wedge” pattern.
On H1, XAU/USD is forming “Spike with reversal and acceleration”. Breaks of support at $1333 and $1327 an ounce will create grounds for the development of correction. On the other hand, rebound from this level will allow the bulls to count on the uptrend’s resumption.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
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…