GOLD retraced back to the trendline (lows 1180 and 1194) and has performed a four days run to the upside. The price isn’t so convincing because the daily candles have very small range. However XAUUSD is facing an important horizontal resistance which we may call it “make or break”. If price breaks out, then the next resistances are 1248 and 1262. There are good probabilities for sell opportunities if price manages to climb to these areas. On the other hand, if price breaks out the rising channel to the downside, then GOLD may see the lower trendline again.
In daily timeframe, AUDCHF is forming a potential bullish triangle. If price violates it to the upside, then there is a measured target around 140 pips, close to 0.754 level. Heading to 4hours timeframe, there is a potential head and shoulders pattern, that it could be confirmed, if price breaks out above the neckline. Incidentally, […]
As most major cryptocurrencies, Ethereum pulled back aggressively and bounced on the 50% Fibonacci retracement level. In addition, RSI (5) defines a daily major swing low around the 265$ level. This level needs to stay intact if buyers like to stay in control. Reviewing the hourly timeframe, the price moves to the upside within a […]
Dollar is still advancing against JPY after Fed‘s Monetary Policy Statement yesterday. The pair is performing a parabolic bullish move from April’s lows. It reached 113 level and stalled below. USDJPY is heading to the upper side of the falling channel and it may find it difficult to break it out. Therefore, we can identify […]
