MarketBreakdown | GOLD, USDCAD, GBPNZD, GBPJPY
Here are the updates & outlook for multiple instruments in my watch list.
1️⃣ #GOLD #XAUUSD 4H time frame 🥇
I see some clear signs of bullish accumulation on intraday time frames.
The price formed an ascending triangle pattern.
Its neckline represents a significant resistance.
Its violation and a 4H candle close above will provide
a strong bullish confirmation signal.
A growth to higher structures will be expected then.
2️⃣ #USDCAD daily time frame 🇺🇸🇨🇦
Do not forget that today is the official banking holiday in Canada.
For that reason, CAD pairs might be slow.
USDCAD is currently consolidating within a narrow range on a daily.
I believe that for now, a consolidation is likely to continue.
3️⃣ #GBPNZD daily time frame 🇬🇧🇳🇿
The price successfully violated a falling trend line - a
strong vertical resistance last week.
We see a strong bullish reaction to that after its retest.
I believe that the pair will continue growing, it will likely
test a current high first and violate that, setting a new one then.
4️⃣ #GBPJPY daily time frame 🇬🇧🇯🇵
The pair is trading in a strong bullish trend on a daily.
The price is texting a significant support cluster at the moment,
probabilities will be high that a growth will resume from that.
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