XAUUSD — The Drop Is Strong
Gold is still moving with bearish pressure after the recent breakdown. Price is now approaching the 4,357 React Fibo / Buy Scalping area, and this is where the chart becomes important.
Gold growth and Elliott wave completion
The last wave of gold growth, followed by the start of a 20 to 30 percent correction of the growth amount, and then the start of the next wave of decline in gold.
GBPUSD | (1H) SELL SETUP
GBPUSD is consolidating inside a contracting triangle structure, with price approaching the lower trendline support. A confirmed bearish breakdown below the triangle can open the way toward the marked downside target zones. 1.3580 is the first key reaction area, while a stronger continuation could extend toward 1.3555–1.3535.
GBP/USD - Head & Shoulder Pattern
The GBP/USD pair on the m30 timeframe presents a Potential selling Opportunity due to a recent Formation of a Head and Shoulder Pattern. This suggests a shift in momentum towards the downside in the coming hours.
USD/JPY
What are your thoughts on USDJPY? Following intervention by the Bank of Japan, USD/JPY experienced a sharp decline from around 164.00 to 155.00, breaking below both the ascending trendline and the key 160.00 support zone.
USD/CHF: Inverse Head & Shoulders Signals a Potential Breakout
USD/CHF is showing signs of a potential bullish reversal after forming an inverse Head & Shoulders structure around the 0.7950–0.7990 demand area.