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Brief analysis of gold trends and some currency pairs on H4 time frame
XAU / USD
All of the bearish signals of gold failed, prices were fluctuating too much and I would choose daily analysis instead of H4 for a more comprehensive view. We can see after the peak of 1560 was broken, the price continued to go up and now approaches 1680. A new up-gap has been created, plus the upper border of the channel has not been approached, so the possibility The price will keep going up. In the medium and long term, we still keep the old view and keep buying. However, in the short term, we should not sell anymore, the gaining momentum is too dangerous.
USD / JPY
Contrary to gold, UJ moved as expected, correcting at the upper border of the rising channel to the MA20. In the short term, the correction may continue and the price will return to the range of 110.2-110.7 after which the possibility of a rally will return. In short, in the short term, it is possible to maintain the sell order with the tight SL, in the medium-long term, continue to rise in the direction of the breakout of the previous downtrend line.
EUR / USD
Scenario 1 has appeared on EURUSD, the price has started to appear to increase with strong signs from H4 to the weekly, the RR ratio is also quite good, you can consider buying and in the short-medium term, immediate target is the price zone of 1,109.
GBP / USD
The price has increased as expected, hopefully you can escape the sell order, in the short term, we are still trading in the triangle-shaped compressed price area, so the possibility that the price may continue going up and approach the upper border. however, should not trade in the current price range, should wait for opportunities on both sides.
USD / CAD
USDCAD also appeared a very large down gap, however, when the price could not break the peak of 1.333, we were still inclined to sell orders.
AUD / USD
Sellers have not shown signs of weakening, prices are currently in the sensitive area and there is no clear signal, so avoid trading at the moment. Pay attention to observe price action at two adjacent resistance-support areas. to have the appropriate response.
