Charts in Focus: Gold and AUDJPY
The spot Gold market has been inching its way closer to breaking down through the key support level at 1170.00. We can see that price has formed an inside bar signal today right at that support and if price continues to weaken from here we could see a break down from this support and a larger move lower, at least to re-test support near 1140.00.
The AUDJPY broke significantly lower on Monday of this week and busted down through a consolidation range it had been stuck in over the last couple of months. Price retraced up to the break down level / resistance today and formed a pin bar sell signal there. If price continues to hold under 95.00 we could see it fall lower in the coming days.
Post by Nial Fuller, founder of learntotradethemarket.com
The spot Gold market has been inching its way closer to breaking down through the key support level at 1170.00. We can see that price has formed an inside bar signal today right at that support and if price continues to weaken from here we could see a break down from this support and a larger move lower, at least to re-test support near 1140.00.
The AUDJPY broke significantly lower on Monday of this week and busted down through a consolidation range it had been stuck in over the last couple of months. Price retraced up to the break down level / resistance today and formed a pin bar sell signal there. If price continues to hold under 95.00 we could see it fall lower in the coming days.
Post by Nial Fuller, founder of learntotradethemarket.com
Recommended Content
Editors’ Picks
AUD/USD tumbles toward 0.6350 as Middle East war fears mount
AUD/USD has come under intense selling pressure and slides toward 0.6350, as risk-aversion intensifies following the news that Israel retaliated with missile strikes on a site in Iran. Fears of the Israel-Iran strife translating into a wider regional conflict are weighing on the higher-yielding Aussie Dollar.
USD/JPY breaches 154.00 as sell-off intensifies on Israel-Iran escalation
USD/JPY is trading below 154.00 after falling hard on confirmation of reports of an Israeli missile strike on Iran, implying that an open conflict is underway and could only spread into a wider Middle East war. Safe-haven Japanese Yen jumped, helped by BoJ Governor Ueda's comments.
Gold price jumps above $2,400 as MidEast escalation sparks flight to safety
Gold price has caught a fresh bid wave, jumping beyond $2,400 after Israel's retaliatory strikes on Iran sparked a global flight to safety mode and rushed flows into the ultimate safe-haven Gold. Risk assets are taking a big hit, as risk-aversion creeps into Asian trading on Friday.
WTI surges to $85.00 amid Israel-Iran tensions
Western Texas Intermediate, the US crude oil benchmark, is trading around $85.00 on Friday. The black gold gains traction on the day amid the escalating tension between Israel and Iran after a US official confirmed that Israeli missiles had hit a site in Iran.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.