USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
XAU/USD: strong signals to buy the gold
BUY 1230 SL 1215 TP 1263 TP2 1287 TP3 1305
BUY 1218 SL 1203 TP1 1248 TP2 1263 TP3 1287
On the daily chart of XAU/USD, the pair keeps reaching targets of “Dragon” and “Crab” patterns. To continue the upward movement, pair’s moves should form the “Dragon’s head” and retest the October high.
On H1, the pair has been reaching targets of the “Dragon”, “Spike and ledge”, “Triangle”, and “Bat” patterns. A break of the resistance at 1,230 will let bulls continue the rally. A pullback from the support at 1,218 (88.6% target of the “Bat” pattern) may be used as a signal to buy.
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.
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
The US-China relations are getting more tensed over Hong-Kong. How does that affect the USD?
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