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.
EUR/USD is not in the best conition
Information is not investment advice
The market has shown that EUR/USD remains a sell on its attempts to recover. The pair is currently correcting up after yesterday’s selloff which was caused by the weak European PMI and strong US retail sales. There are two areas at which bears will likely resume selling: 1.1255 and 1.1280. We’ll pick the lower one for the trade but you can monitor the market and enter higher if possible. Downside targets are at 1.1215 and 1.1200.
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.
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