On the daily chart, we expect the price of gold to fluctuate sideways within the Symmetrical Triangle with resistance and support marked by the blue line.
Tag - forex signals
Thursday American CPI data pulled the US dollar index below the psychological level at 95.50.
On the daily chart of XAU/USD, bulls couldn’t break the resistance at 1,216 and hold the pair above 1,209.
On the daily chart of USD/CAD, bears couldn’t break the support at 1.2885 and keep the pair below 1.296.
The US dollar index has managed to recover after a significant fall.
On the daily chart of USD/CHF, bulls failed to pull the pair out of the upper boundary of the 0.9855-0.9995 consolidation.
On the daily chart of EUR/JPY, after the pair reached the 78.6% target of the “Gartley” pattern, it rebounded down.
On the daily chart of GBP/USD, the pair keeps reaching targets of the “Wolfe waves” pattern.
On the daily chart of USD/CAD, bears try to counterattack and implement the “Bat” pattern.
On the daily chart of XAU/USD, the pair reached the 88.6% target of the “Shark” pattern.
On the daily chart of AUD/USD, bulls still hope to implement the “Wolfe waves” pattern.
On H1, bulls get ready to break the resistance at 0.6825.