Recommendation: BUY 0…
XAU/USD has spread its wings
TP $1351 TP2 $1386
On the daily chart, XAU/USD keeps rallying towards 200% target of the AB=CD pattern. The area of $1347-1352 acts as key resistance. Support is near $1320.4-1321.6. Bulls retain control, so buying on the pullbacks is the main strategy.
On H1, XAU/USD keeps forming “Spike and reversal with acceleration”. As long as the pair remains above the trend line of the first stage ($1290), the outlook is bullish.
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…