Price is expected to break above the descending triangle
I don't expect the lower range to be broken at the moment
Let's see what unfolds
I think audusd is heading towards 0.8 figure
Bull exhaustion could terminate around 0.75 level
Two month sharp decline on GOLD was followed by extreme oversold momentum readings, indicating corrective action would be needed to sustain the decline. Looking at the 4 hour chart, one can see an upside breakout of the short term trendline in the region of 1098-1046 that was again followed some corrective action (61.8 retracement of 1046-1088). Emergence of...
After last week's dramatic rise, all euro pairs are showing signs of decreased upside momentum. The emergence of evening star formation on EURGBP means the pair is likely to lose some of the gains in upcoming sessions. In view of this, I see 0.71 as a good area to look for potential buying opportunity and will be monitoring intraday charts to spot better entry/exit levels.
Let's see what happens, counting on trendline breakout/neckline breakout
Avter failing to overcome 0.70 psychological barrier, Aussie is making continuous higher highs signalling a complex correction up to 0.76 level is on the cards
GBPUSD looks set to resume its decline near 1.53 area as price broke below an important support level near 1.5250 last week.
Penetration of short term trendline indicates the pair might retest broken support near .72 area
GBPUSD looks set to resume its aggressive decline following a quiet sessions indicated by low volatility in recent sessions. If the price penetrates the trendline, we could go short on a retest of the line for low rish / high reward deal
Oscillator divergences in intraday charts indicate gold may recoup some of its losses before resuming its downtrend