XAUUSD Hammer Hourly Chart
Resistance: 1601.64 minor/1618.51 minor
Support: 1588.72 moderate/1571.85 strong/1558.93 moderate
Market is generally bullish with Hammer suggesting a further push up. Considering that Hammer is a low level pattern look for a confimration of the bullish setup before going long. The immediate objective for any buy is 1601.64 break of which suggests a run in the market, possibly a move for 1618.51. Put a stop loss under 1588.72.
EURUSD Three Inside Down Hourly Chart
Resistance: 1.3342 minor/1.3394 minor
Support: 1.3265 moderate/1.3213 strong/1.3136 moderate
Three Inside Down is just above a moderate support at 1.3265 with EURUSD Hourly charts generally bullish. Given that this is a high level bearish reversal pattern consider shorts only when prices are under 1.3265 the immediate objective a strong support at 1.3213, the daily Pivot. Stop losses should be placed above the patterns high. A break of 1.3213 could see us moving to 1.3136.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To aLook At Prices