Gold and Forex Analysis February 12

Good morning! Wishing you new and more favorable days, continue to comment on the market today, February 12!

The basic news today is noteworthy that the fact that the Governor of the Bank of England spoke at the beginning of the US session, in addition to news of US employment opportunities may also have an effect.

Preliminary analysis of the gold trend and some currency pairs on the H4 time frame

XAU / USD

Although there was a strong drop in the first session of the week, gold-usd has not broken the previous bottom. We can see that the pattern of the two bottom pattern may end this correction phase, however, it is safest to wait for buying at the confluence area below to follow the medium-term trend.

USD / JPY

The important price we have observed is quite clear, if the breakout trade follows the trend, you can wait for the price to recover and retest, the target price is 111, the high possibility is price. will adjust in this area.

EUR / USD

The first session of the EUR week has lost a lot of points compared to USD, this is the sixth consecutive drop of this currency. The price channel we observed has been broken, but the price has not escaped from sideways for more than 3 months now. It is necessary to carefully observe the current price range, if this level is broken, it is likely to return to the lowest price level in 2018. Current market conditions are only suitable for ranging siblings.

GBP / USD

Yesterday's bad economic data contributed to the continued plunging of GBP. At the moment, if we can not enter the order, we should stay out because the price is approaching the resistance zone of 1.28 and the possibility of a correction will increase at this price range. Those who have a sell order should also note this price range to cut the order.

USD / CAD

The price did not fluctuate much in the first session of the week so the view remained unchanged, bought when the price returned to the support areas below, or traded retest when the price broke.

AUD / USD

There is still no clear trend on AUDUSD, there are two levels to note: the resistance of 0.717 (selling opportunity), and the support level of 0.70 (correction or breakdown).