USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
XAU/USD keeps falling down
SELL 1300; TP 1275; SL 1307
Last week XAU/USD made the biggest weekly decline since August. Pay attention to higher timeframes: a “shooting star” candlestick was formed on the MN timeframe after the 4 months of growth. It seems that the gold is finally into the bearish correction.
The weekly pivot point is located at 1305. Sellers will dominate as long as the precious metal is trading below this level. The targets lie at 1278.25 (weekly pivot S1) and 1275 (38.2% Fibo retracement of the August-February advance).
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.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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