
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.
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The euro is fundamentally weak: the recent economic figures from the euro area were quite disappointing. Such weakness has prevented EUR/JPY from getting back above 120.10 (61.8% Fibo retracement of the 2016-2018 advance). The pair formed two doji candlesticks on W1. Although there is a chance that the euro will keep consolidating above the support at 117.50 and make yet another go at 120.00, the break below this support will trigger a bigger selloff. The downside target will be at 115.35 (78.6% Fibo).
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/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.
Ichimoku Kinko Hyo CAD/JPY: The pair is trading above the cloud…
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.
Ichimoku Kinko Hyo GBP/JPY: The pair is trading below the cloud…
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