Hello Price Action Traders.
The week just passed this market did some important movements and then consolidated by closing at the same levels of the previous week. On the higher time frame charts, however, we have a daily price action indicating a “BUY SIGNAL” if price will break upwards 1.3300 area. Target 1.3400.
Eur/Cad on Thursday showed a very clear Pin Bar which gave the opportunity to push the price upward. So it was and now we are faced with this market ready to do a bullish breakout which could indicate continuation of the trend. The weekly chart below shows the target close to 1.4100 zone.
Xau/Usd – Gold
The Gold market is in a bullish phase in the short term after the sharp declines that we’ve all seen. The price is consolidating for some time between $ 1,350 and $ 1,300 without taking a precise direction. For the week ahead a bullish break of the Friday Pin Bar could reinvigorate the Gold and, if this breakout took place, the first real goal is $ 1,400 area.
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