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
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