The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
XAU/USD: the triangle will be a judge
SELL $1268 SL $1280 TP1 $1237 TP2 $1212
BUY $1287 SL $1275 TP $1310 TP2 $1321
On the daily chart, XAU/USD formed a triangle. A break of its upper border close to $1266 an ounce will return the price inside the downtrend channel and increase the odds of achieving 78.6% and 200% of Gartley and AB=CD. On the other hand, successful test of resistance at $1288 will revive hope for the uptrend’s resumption.
On H1, XAU/USD formed a “Widening wedge”. Traders can bet on the break of $1268-1287 range.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...