Let’s go Tuesday presents us with XAU/USD & AUD/JPY

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.

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