Hello Traders,
Let me quickly rush through this analysis because I can see gold becoming impatient with me (lol).
Just after working on the chart, I observed it was already making the move I was trying to analyze.
Alright, let’s hit the charts guys
1. XAU/USD
Gold on the larger time frame is highly bullish.
On the 4 hours chart, we can see that price is respecting resistance level 1509.25
I am bullish biased and looking out for a bullish confirmation so that I could buy this bad boy.
If the Bulls help us confirm that buyers are jumping into this trade, our next possible resistance level would be 1566.31, which is over +500 pips
2. AUD/JPY
The AUD/JPY is another beautiful setup to watch out for.
On the larger time frame it has a bearish outlook, but on the 4 hours time frame we can clearly see that price has been boxed into a triangle.
A breakout through support level 70.773 will most likely encourage the bears to further push price down to the next possible support level (64.596) which is over +500 pips
Alright guys, I don’t want to delay this analysis any further, pardon my grammatical blunder if any and I wish my Muslim brothers and sisters a great holiday.
