XAU/USD reached resistance of the uptrend channel in the area of 1347.
XAU/USD: will bulls return to the game?
TP1 1362 TP2 1385 TP3 1400
On the daily chart of XAU/USD, bulls are trying to keep the pair inside the uptrend channel and don’t lose hope for reaching 127.2% and 161.8% targets of AB=CD. On the other hand, a break below $1302 will increase the risk of correction to 88.6% of the “Bat” pattern.
On H1, the “Shark” pattern is transforming into 5-0. A successful test of resistance at 1331-1332 will allow bulls to make another step towards the uptrend’s resumption.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…