Daily Analysis

Before New York session Gold test support trend line at H4 time frame. Look at this level no matter of your trading plan or strategy.

Take a look at the XAU/USD chart at H1 time frame. After strong buy price finally break trendline and previous support it seams becoming resistance. The market will probably correct a little bit so during the NY session I will probably look for short positions.

The daily chart for EUR/USD shows us that the price is moving sideways. It is most likely to stay between the resistance trend line and the support trend line for some time. Try to find the best trading setups inside the triangle.

The price of gold is still pretty close to previous support level (now resistance). If you are bullish watch for resistance breakout. If you are bearish try to find the best sell entry around resistance level.

The price is moving below the daily trendline (blue), retesting the previous support 1, which has now become resistance. If you are bearish, look for support 2 as the profit target. For bulls, the first resistance is the blue trendline.

If you take a look at the gold on the H4 time frame, it is obvious that the price has broken support. It may retest this level again, but in the short term, the next support level for bearish traders is support level 2.

If you are trading EUR/USD, you should keep an eye on these levels. The blue line represents the first support level. The price is currently between the first resistance (red line) and the channel support. If you are bullish, the top red line should be considered as an exit point.