It’s simply the question of time before gold price gets to the higher levels…
Levels to trade AUD/JPY
Information is not investment advice
AUD/JPY has been recovering from the 74.00 area since the start of January, but met resistance in the 76.00 area (Dec. 13 high). On the D1, the pair formed a small “spinning top” – a candlestick signaling market’s uncertainty. The direction of a breakout from the current range between 76.10 and 75.85 will determine the further move. A break above 76.10 will open the way up to December highs around 76.50. The decline below 75.58 (100-day MA on the H4) should trigger a fall to 75.25 (50-period MA).
USD/CAD is consolidating after breaking above the bearish “wedge”. The pair has bullish dynamics since the start of June.
XAU/USD rose to the highest levels since 2012. The advance has become stretched and the price may try to correct down.
The pair has broken down two strong supports. What’s next?
Investors want to trade riskier, and dire economic and virus background doesn't stop that. The USD will testify.
Risk-on pushed stocks and riskier currencies upward.