Gold and Forex Analysis on february 13

ngothachhuy (12)in #forex • 6 years ago

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

XAU / USD

The 1315 resistance zone is proving quite hard when the gold has retested for the third time but failed. Still expecting the medium-term uptrend to return, the view for today is still to buy, the most reasonable area to do this is when the price returns to 1300.

USD / JPY

The current buying power of USDJPY is quite good, so the price has not retested the breakout price, this is still a waiting area to follow the trend. However, the price may not return immediately, but the possibility of going up to 111 before adjusting. In general, wait and observe more.

EUR / USD

EURUSD had an impressive recovery, ending the previous day's decline. The price is returning to the range and expect it to keep going up. If there is a buy order, we can continue to hold, if not yet, wait for the price to bounce back a bit and look for the opportunity, the RR level is quite good, the price target is the middle of range or when the price approaches the line Long-term downtrend is on daily basis. However, if there is no ranging transaction experience, it should be omitted.

GBP / USD

The price has corrected at 1.28 as expected, it is now approaching the upper boundary of the falling channel. If you risk, you can continue to follow the trend in this area when there is a more careful signal, waiting for the price to come back to 1.30.

USD / CAD

Price is still adjusting down and approaching the price range we are waiting for. The silhouette of the reversal pattern - the reverse shoulder and shoulders have also appeared. The buying zone is quite good because it is very close to the lower boundary of the long-term bullish channel. Depending on how risky you are, you can decide to go ahead or continue to wait and confirm.

AUD / USD

There is no significant change in the price of AUDUSD compared to yesterday, it is possible to consider selling orders when the price is above the resistance levels, but remember that the trend is not clear.