NZD/USD: is the correction over?
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 is going to the abyss
Recommendation:
SELL 1206
SL 1221
TP1 1175 TP2 1165 TP3 1151
On the daily chart, bears managed to move XAU/USD to 113% target of the “Double top”. As gold approached the convergence area of 1175 (78.6% of the long-term bullish wave) – 1184 (113% target) increases the odds of a pullback. On the other hand, if the support breaks, the decline will likely continue towards 1151.
On H1, bears managed to form a “Spike and ledge” pattern and lead XAU/USD out of the 1206-1218 consolidation range. Use pullbacks of resistances for selling.
Ivan Karamazov
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