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Brief analysis of gold trends and some currency pairs on H4 time frame
XAU / USD
Gold fluctuated up to 400 pips in the first session of the week, with such volatility, short-term trading in a narrow band is relatively dangerous. Recalling on the medium and long-term view, we still prioritize buying (there are orders to hold, no orders to wait for rebounds to buy). Today, based on the bearish signal that appeared on the upper border of the uptrend channel, we could consider selling, but the RR at the current price level is not good, so wait for a rally to the upside. Above enter the command.
USD / JPY
USDJPY has continued to decline sharply and predicted to fall to 110.2, this is also considered a retest of the long-term trendline that it broke not long ago, hoping short brothers have escaped according to recommendations. In the short term, we suspend the transaction. In the medium and long term, we still follow the upward trend, but at the moment, there is no signal to increase, so the price will probably conduct another test phase, should not rush to buy but should wait. wait.
EUR / USD
The buy orders for EURUSD are still good, the uptrend signals still hold, the retest of the neckline of the round bottom pattern yesterday made this model more reliable. Still holding the old view, buying in short-medium term, immediate target is 1.109.
GBP / USD
The price did not change much, the two most noticeable price zones were the upper and lower bands of the accumulation area. Still keep the old view, waiting for price action in these two regions to decide to trade.
USD / CAD
The price seems to recover quite strongly but the important confluence zone of 1,332 is still maintained, as long as this price area has not been broken, long orders will face big risks. Today's view is waiting for the bearish signal at this confluence and sell.
AUD / USD
AUDUSD is still stuck at the bottom of 11 years, there is no clear signal so we should not trade at the moment. Buy orders should only be considered when the bearish channel is broken, sell orders should only be considered when prices clearly penetrate the current bottom