Gold and forex Analysis on February 20

Newly opened the chart out of souls and brothers and sisters, GBP has the strongest increase from the beginning of the year, while gold also saw the second strong gaining session. Trying to find a reason, I have not seen anything that is convincing, just keep accepting the eternal reason: at sharks: cool :. Hopefully, the brothers and sisters who caught the peak yesterday have SL, it is very tired.

Today we don't have strong news but don't forget tomorrow morning, when Trader Vietnam is sleeping, the Fed will announce the FOMC meeting minutes, everyone will pay attention.

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

XAU / USD

Look at the gold chart yesterday, especially on a low time frame, it is a nightmare for traders to get to the top. The price did not go straight from 1325 to 1340 but there was almost no correction, so it could be seen how strong the bullish flag (above daily) model is. Gold has increased for 4 consecutive sessions with a good increase in each session, the price can be adjusted down at any time but this is not the time to catch the peak. Currently, it is necessary to observe and pay attention to the next two landmarks of 1350 and 1360. In case the 1326 retest price can be bought.

USD / JPY

Not in tune with gold, JPY yesterday did not have much fluctuation, the reason may be due to BOJ's statements about willingness to curb the rise of the Japanese Yen. The rising channel is still in stock so generally waiting to buy at the lower support levels.

EUR / USD

Yesterday session helped us get a reversal pattern: the head and shoulders reversed. Old buy orders may continue to hold, new orders should only be entered when the price retest on the neckline and signs of a clear increase. The target price of the upper area of ​​the channel decreases.

GBP / USD

The downtrend has officially broken, reversal pattern: the reversal of the head and shoulders has been completed, the gap at the beginning of the week has not been filled yet so this can be considered a runaway gap. View for today is waiting for the price to return to 1.3 and follow the uptrend.

USD / CAD

Prices do not fluctuate much, continue to keep the old view and wait at the support area.

AUD / USD

Price is still in the middle area but not to the beautiful area to sell, continue to wait.