Good morning, wish you have trading day full of energy and efficiency. Let's continue to comment, market comment in the new day - November 20.
The market's focus today is the GBP with the BOE Governor statement and inflation. The dollar will be the building permit data, but this data is not expected to cause strong volatility.
Brief analysis of gold trends and some currency pairs on the H4 timeframe
XAU / USD
Gold has had a fairly quiet day at the beginning of the week, but the current price is not much different from yesterday, so we keep the same. Buy on the momentum is recovering. The buy zone is the support area at the bottom, however, the price may encounter the selling pressure on the 1230 area, the brother considered that set TP.
USD / JPY
The downward trend of the USDJPY is quite clear, and there are no signs that it will soon stop. So you just sold out in the direction of bearish, the sell zone is the upper resistance or the MA20 as the momentum is quite strong.
EUR / USD
EURUSD continued to rebound, now it has broken its daily channel, but is being held at the resistance of 1.145 and close to the band line, so today's view is still on sale when credit brand. In the case of Euro breaking 1.15, we can only consider the possibility of buying because it is a sign of a bearish structure.
GBP / USD
Earlier in the week GBPUSD fluctuated little and the current price unchanged compared to yesterday is a little, so we still follow the sell out. The waiting area is the upper confluence area.
USD / CAD
USDCAD has recovered as expected but not very strong. At present prices have returned to the upside channel and have not shown signs of a reversal, we still find the price advantage to buy.
AUD / USD
The nearest resistance was false-break but the uptrend was not affected, and yesterday's down-gap was not filled, so today's view would be a buy. Buy zone may be the current price with MA20 or more careful wait for the price to support the lower level.