Brief analysis of gold trends and some currency pairs on H4 time frame

XAU / USD

Gold has undergone a dramatic change, with a 7-year peak (1600) tested once again. This position is confluence with the upper boundary of the uptrend channel, so it may appear a correction in the short term, however, the sell orders need to wait after the signal. For middle-term and long-term trading brothers, they can still keep buying orders.

USD / JPY

Unlike gold, JPY has no major changes, prices are still accumulating in a narrow range. The bullish signal formed at the lower boundary yesterday gave us an opportunity to buy, if there is an order, it can hold, the target should be set before the 110.2 area. At this upper border of the up channel, if there is a bearish signal that can be sold, this is a strong confluence zone so it is hard to be easily broken.

EUR / USD

EUR continued to fall before USD, the bottom zone of 1.082 was broken, maybe this is the SL sweep but there is no reliable sign that the price will recover. For short-term trading brothers, the next noticeable support area is 1,075, the amplitude is not much, so it is not a good choice to sell in the short-term, in case there is a bullish signal in the area of ​​1.075 Can consider long. For middle-term and long-term trading brothers, we still prefer to go down, maintain short orders.

GBP / USD

GBPUSD continues to have unpredictable double-headed volatility, the signals are unclear and the accumulation area is narrowing, avoiding trading this pair at the moment.

USD / CAD

Due to the strong rebound from the MA20 on the daily, the price created a false-break when re-testing the resistance zone of 1,325. There have been no major changes so we still keep the old view, waiting for the price to reach 1.32.

AUD / USD

The downward channel remains firm and the price is testing the lowest price for more than a decade. However, the amplitude is getting narrower and the answer will come today. If the price breaks down the channel, it will probably recover to the area of ​​0.677, in case of breaking the range, the price can return to the area of ​​0.660.

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