Gold and Forex Analysis on February 18

Good morning! Wish you have a new profitable trading week, continue to comment on the market today, February 18!

Last trading day last week many major currency pairs had a strong breakout in the second half of the US session, not knowing whether it was good or bad for this week.

On the economic news calendar, today the North American region is off, the rest of the region has no noteworthy data. Looking at the schedule like this may think that there will be less volatility, but recently the days of seemingly less volatility often have terrible "price" hits, be careful.

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

XAU / USD

In the previous session, after successfully completing the triple bottom model and breakout, the price approached the resistance around 1320 and was adjusted quite strongly, but at the end of the session it created a new peak. This breakout also completed the bullish flag on the daily frame, so the overall view is still buying because expectations of the uptrend will continue. It should be noted that two potential adjustment areas are 1326 and 1335.

USD / JPY

Although the correction was quite strong in the last 2 days of the week, the gaining channel still existed. View for today is still waiting for the price to enter the retest zone 110 to buy. If more careful, you can wait to buy at the lower boundary of the confluence channel with support.

EUR / USD

Thinking that the Euro has finished the film when approaching the 2018 bottom, the bulls once again push the price up spectacularly - a classic SL scan. The falling channel line has been clearer today, but it is in the lower band, so it is likely that the price will correct upward before continuing the trend.

GBP / USD

Prices did not return to the 1.27 area but corrected earlier than expected, but it is important that the trend structure still exists. Although it is on the upper edge of the channel but selling out at this time seems a bit early, so wait at the farther price range.

USD / CAD

The shoulder-and-shoulder model we observed failed. It seems that prices are not ready to return to the long-term uptrend which is accumulating. You can wait to buy in the lower area of ​​the range if you have experience with this type of market.

AUD / USD

The trend is not clear so it is not very convenient to deliver, if you still want to trade this currency pair, you should wait for the price to go up to the upper area before selling out.