Gold and Forex Analysis on january 29

Today's outstanding data is the US consumer confidence index published at 22:00, other regions do not have strong data.

However, although not on the calendar, but today is the day when the National Assembly discusses May's draft Brexit draft, GBP traders pay attention.

The upcoming milestones that you can not ignore when trading British pound

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

XAU / USD

The first session of the week did not fluctuate too strongly but moving very well, it was retest of the resistance area and continued to follow the trend. At present, if we can buy the buy order, we can continue to hold, the price target is around 1310. It is necessary to carefully observe this price range, this may be the next correction area.

USD / JPY

With USDJPY pair, we continue to monitor the triple top model, yesterday the price approached the resistance level of 109.1 but could not break it and is now back again, this is also the exit zone of the model. If the breakout price is successful, be prepared for a new bearish trend, the most reasonable entry point is when the retest price is broken.

EUR / USD

EURUSD's direction is still unclear, the price is in a range with a large range, the price has approached the nearest resistance so today we will ignore this area and wait to sell at the next price range.

GBP / USD

After several days of strong increase, the price corrected yesterday but was quite modest. Trend increase is currently a relatively good slope, expected to rebound at MA20. However, as mentioned, today is an important day for the pound as the British Parliament continues to "test" the Brexit draft, so it is safe to buy at a better price.

USD / CAD

The bearish flag pattern is completed and currently the price is returning to retest the model, the selling opportunity has come.

AUD / USD

The price has bounced back at the mid-term downtrend line and continued observing if the price of the uptrend line is below. The direction of the price is unknown so today is not very convenient for us to trade.