Levels to trade EUR/USD
EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
XAU/USD: strong signals to buy the gold
Recommendations:
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.
Ivan Karamazov
Similar
USD/JPY: selling may continue
USD/JPY is declining for the fifth day in a row. When the pair fell below 105.00, it entered a new, lower range.
USD/JPY: target for selling
The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.
Latest news
USD/JPY Tries to Stay Below the 100-hour MA
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
GBP got support after BoE's report
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Fed Chair Powell Testifies
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
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