Gold and Forex Analysis on january 25

ngothachhuy (12)in #forex • 6 years ago

On the weekend, strong news focused on the dollar with core durable order data, the rest of the region did not have much noticeable news.

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

XAU / USD

Price has not changed much compared to yesterday, it is still respecting the newly formed price channel but has not broken the important resistance level of 1278. Because this resistance zone is about to join the rising channel line. long-term so if you take the risk, you can consider buying orders without waiting for confirmation signals, the RR level in this area is relatively good.

USD / JPY

The price is still in the rising channel but it seems that the increase is not much when it is continuously going sideways and testing the lower channel, looking at the daily frame, we also see this increase is quite long and ready to approach Bollinger's upper band. In short, the trend-following buy orders on H4 are now quite risky because prices can reverse anytime, so consider carefully.

EUR / USD

The bad economic data has overwhelmed the Euro and with a sharp decline yesterday the price has penetrated the long-term downward channel to below. Sell orders should wait at an important confluence area 1,135.

GBP / USD

Yesterday's GBPUSD price went very well when the key retest level broke and created a new high. If the order is still not available, it may not be possible today. Prices may adjust around 1.315, the price target should be this area.

USD / CAD

USDCAD is still in the new rising price channel formed on H4, but this is also the bearish flag pattern on daily basis, so the price can break trend anytime. So buying orders at this time are quite dangerous.

AUD / USD

The downtrend is continuing but the entry area has passed. Currently, the price is in the confluence area (support), so it may be adjusted upwards and it is an opportunity to sell according to the trend.