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Mon, Mar 04, 2024

Gold Symmetrical Triangle Analysis

Gold has formed a Symmetrical Triangle by creating lower highs, higher lows.

gold symmetrical Triangle pattern in 4hr chart

Let’s Wait for the Breakout from this Triangle border line.

Gold playing in a range-bound market ahead of September 16 FED meeting.

Non-Farm Payroll data came in positive to push US dollars further.

But, FED accommodative and continuous purchase programs would drag dollar gains.

EURUSD Uptrend Range Analysis

EURUSD is still moving up and down between the Uptrend ranges.

EURUSD uptrend range movement

US dollar boosted by Friday NFP data posted 1.371 million jobs and recorded an unemployment rate of 8.4% beats expectations of 9.8%.

The coming week, Eurozone has to publish Q2 GDP growth rate and ECB interest rate decision.

US data report is on Friday as the core inflation rate for August.

Hence this week data only would drive EURUSD to the next level.

Let’s wait for the Breakout from this range.

AUDUSD Trend Analysis

AUDUSD is moving in a downtrend for a long time in the weekly time frame chart.

audusd weekly timeframe wait for breakout or reversal

Now, AUDUSD price standing at the top zone of the downtrend line. however, breakout not yet confirmed.

Let’s wait for the breakout or reversal from this top zone.

AUDUSD Still moving in an Uptrend range

In the 4-hour chart, AUDUSD is still moving in an Uptrend by forming higher highs, higher lows.

Soon, we can expect a breakout from this range.

Same as EURUSD, let’s wait for the breakout from this uptrend range to catch big movements on AUDUSD.

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1 thoughts on "Gold, EURUSD, AUDUSD are all moving in Patterns"

  • September 6, 2020 at 1:13 pm

    Good Workout. Many Many Thanks for this suggestions.


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