Gold and Forex Analysis on February 19

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

XAU / USD

After breaking the channel on H4, the price is still going up and there is little correction. Currently, it is right at the resistance zone of 1325. Buying and selling at this time are not favorable, there are two scenarios at this time: if the price goes up to 1335, there will be strong correction, if the price goes down to the zone. 1315 is a chance for you to follow the trend, but in case the price cannot create new highs, it is also necessary to be careful because this is an early sign that the price may be about to reverse.

USD / JPY

USDJPY was not much changed yesterday so the view today has not changed. It is possible to wait to buy in the trend at 110, but it is better to wait at the 109.2 area.

EUR / USD

Although there was a good rise at the end of last week, EURUSD could not overcome the resistance area of ​​1.132. The signal conflicts so this is not the right time to trade EURUSD. However, previous buy orders may continue to hold because the expectation that prices will continue to rise up above the downward channel.

GBP / USD

Prices have not changed much and there are no clear signs that the downward trend will change, the view is still waiting for selling in the upper resistance area.

USD / CAD

Looking at the bearish channel on H4, we can see that the declining momentum is weakening, the price is also approaching the strong support on the big frame so the buy orders should be considered compared to the sell order.

AUD / USD

The AUDUSD price is still in the middle area, not suitable to enter the order, we should ambush at the resistance zone at the upper boundary.