
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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There are many ways to bet on the decline in the British pound. One of them is to sell GBP/CHF. The pair ran into the resistance of the descending 50-month MA (1.3350). In addition, it tested levels above 200-week MA at 1.3257 but then returned below it.
On D1, the pound is currently enjoying the support of the 50-day MA and 23.6% Fibo retracement of the 2019 advance just above 1.3160. If this support is lost, there will be scope for a deeper decline to the 1.3010 area (38.2% Fibo, 100-day MA). In addition, a “Head and Shoulders” pattern on H4 confirms that the market has topped.
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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