Brief analysis of gold trends and some currency pairs on H4 time frame
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XAU / USD
Gold has returned to the retest of the 1560 zone as expected, but there has been no major change. In general, the bearish signals are still overwhelming on H4, daily and weekly frames so we still consider selling orders, the short-term target will be 1535 area.
USD / JPY
The momentum is so strong that the price has not returned to the zone 109 which we now expect. The price is now approaching the important 110 zone and may be about to adjust, however, in general, the force is still good and the amplitude is still high. If you have long orders, you can still keep them. New buy orders should only be considered when there is an increase signal in the 109 area.
EUR / USD
EURUSD continues to follow expectations and it has approached the target price zone of 1.10. Although the downside is very strong, this is a hard resistance zone, so the price may correct in this area. Those who trade short should close the order, waiting for the opportunity to enter another order. If the trade is longer, you should pull SL to reduce risk, there is still the possibility that the current price area is broken but need to wait for price action in this area to confirm that.
GBP / USD
Despite the bullish signals, and as warned, being tested too many times in a short time makes the 1.3 resistance area facing the risk of being broken. Still keep the old view, priority the sell orders, risk can sell according to the signal has just appeared, more carefully should wait for a clear breakout signal.
USD / CAD
Prices have not changed much, continue to accumulate in a narrow band, yesterday's flag pattern has also been distorted into a two-peak pattern. Continue to keep the old view, sell soup to catch the declining adjustment.
AUD / USD
After our buy order, the price has risen sharply but now there is a bearish signal on the daily. Short-term traders may consider escaping, but if the trade is longer, you should raise, the possibility of AUDUSD's recovery is still large.