Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
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.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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