Please try another search
Risk ON mode is back on the market. Prices of riskier assets are climbing up and safe havens are drowning. This can especially be seen in gold when Friday was one of the worst days in the past few weeks.
In the long-term, gold is still on the positive side of the market though. The price is locked inside of the wedge formation, which is promoting the breakout to the upside. Especially as long as we stay above the major support on the 1380 USD/oz. In the shorter term, the situation here is negative. The price bounced from the 1480 USD/oz resistance and went lower. We are also inside of the smaller flag formation, which is promoting the breakout to the downside. We can conclude: as long as we are inside of the wedge pattern, the sentiment is negative but the breakout to the upside, will bring us a long-term buy signal.
The second instrument is GBP/JPY, where the price broke the upper line of the rectangle, gave us a nice buy signal. This sentiment is additionally strengthened by the bullish wedge formation, from the first days of December. Recently, GBP/JPY is very respectful towards the technical patterns, we had this wedge and the rectangle but also a beautiful flag in September and October, which resulted in a new bullish wave.
Now USD/JPY, which starts this week on the back foot. The attack on the 109 resistance was unsuccessful and the price reversed creating a triple top formation. We can consider it also as a false breakout and both patterns are promoting a further slide. Chances for a bigger drop here are currently very high.
Last week, the US dollar fluctuated as inflation data came in above expectations, sparking volatility. Amid talks of potential shifts in Federal Reserve policy, investors are...
Bearish: We are currently @ 1.2735 in a channel in a range. We are continuing a third wave and looking to continue the channel to the ATR target @ 1.2680 with a further S4...
The Japanese yen is showing limited movement to start off the week. In the European session, USD/JPY is trading is almost unchanged at 149.07.Will the BoJ Raise Rates on...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.