Brief analysis of gold trends and some currency pairs on H4 time frame
XAU / USD
In the first session of the week, gold fluctuated extremely low, so there was no significant change. In the morning, a small up-gap was established but still in our calculation. Keeping the same view, the price is likely to reach 1600 before the correction occurs. If you already have a buy order, you can keep it, you should not enter new orders, but wait for the opportunity above.
USD / JPY
USDJPY was similar, not much changed in the first session of the week. An area of cumulative price is still being established. The current price level is not suitable for buying / selling, instead of observing the price action carefully at both sides, if there is a downside signal, it may be short, especially at 110.2.
EUR / USD
Although the price has not created a new low, the selling pressure is still overwhelming, it is likely that the inverted hammer model has failed. Currently we should consider two possibilities: 1 / Price will penetrate the current strong area to 1.075, noting that the range is not much; 2 / The price will create an SL scan to get rid of early traders. The main policy is to maintain the status of the bottom fishing orders the previous day (you can narrow the SL if desired) and not stuffing. In case of noticeable bullish signals after the SL scan, long consider. Note: the above cases are all short-term transactions.
GBP / USD
The price did not brekout up to complete the flag pattern, signals and the current price on GBPUSD is not very nice, need to observe more and should not trade this pair for the time being.
USD / CAD
The downward momentum met a bit of reaction when approaching the MA20 on daily but the pressure was not large and the switch area of 1,325 and the MA20 on H4 still maintained. Without changing the view, continue to expect the price to return to the zone of 1.32.
AUD / USD
After a few days of accumulation, the price still could not penetrate the downward channel and is returning to the lowest price level in 11 years. Should not trade at the moment, pay careful attention to price action at the lower boundary of the range, if there is a strong enough bullish signal, it is possible to consider long, if the support is broken, the price is likely about 0.66.
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