EUR/GBP can’t leave the consolidation range of 0.87-0.9020. It was formed in line with the “Spike and ledge” pattern.
XAU/USD: Indians prefer gold
Recommendation: BUY 1,272 SL 1,257 TP1 1,286 TP2 1,301 TP3 1,325
On the daily chart, XAU/USD keeps forming patterns 5-0 and a “Widening wedge”. The pair is moving towards a convergence area of 1,244-1,250 (50% correction of the last long-term bullish wave + 88.6% target of a “Shark”). At the same time, if it reaches 161.8% target of AB=CD, the risks of a pullback will increase.
On H1 of XAU/USD, the formation of the “Three Indians” and 1-2-3 patterns creates a possibility for a bullish counterattack. To begin with, buyers have to overcome resistance at the level of 1,272.
On the daily chart, bears are in control. They are still hoping to push the pair to 200% target of AB=CD.
Bearish Ichimoku Cloud with falling Senkou Span B; a cancelled golden cross of Tenkan-sen and Kijun-sen.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…