Hello Price Action Traders.
Eur/Usd, in recent days, has consolidated between 1.3000 and 1.3180 after strong bullish movement from 1.2750 has pushed the price in two days above 1.3000. My vision is certainly more bullish than bearish but only if the price will have the strength to break the 1.3200/1.3180 and remain bullish in the daily close. If this happened it will be good to look for long signals. The next resistance level is 1.3400.
In Thursday’s trading analysis here on the blog I had analyzed nzd/usd for a possible long entry on breakup of daily outside bars on Tuesday. The break out occurred, and the price is now well prepared to go to retest the resistance areas at 0.8070. If the price were to break down the 0.7840 area the price action bullish setup would fail and would open the opportunity to see this market come down.
Xau/Usd – Gold
The Gold market is in a bullish retracement a phase in the last period. The price formed two inside days in recent days after a nice consolidation. Bullish break of $ 1,301 area can push the price up into the next area of 1,345 resistance first and then 1,400.
It’s all for today!
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