Gold price formed a bearish harmonic ‘Butterfly’ pattern. Still, the detour to $1760 may be the decline it forecasts. In addition, even the pattern allows expecting the increase up to $1780.
AUD/CAD: the range is about to break
Information is not investment advice
AUD/CAD is consolidating in the narrow range between 0.92 and 0.9160 for the fifth day. On the one hand, there’s bullish divergence on D1 and an advance above 0.92 will open the way up to 0.9215 and 0.9250 (50% Fibo of the June decline). On the other hand, the fall below 0.9160 will be in line with the major downtrend and lead the pair towards 0.9130 and probably lower. All in all, in the most short-term, the pair will more likely remain under pressure.
AUD/USD formed an inverted "Head and Shoulders’ and is targeting 0.7815, 0.7840, and 0.7860.
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
In this article, you'll find the overview of stock indices and tech analysis of S&P 500.
What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
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