In today's episode, we will try to look for the right moment when the correction on the USD will come to an end. For this we will analyse the situation on Gold, EUR/USD and USD/JPY.
If it was all about Gold, the time to end the correction would be right now. XAU/USD is creating a hammer candlestick on the up trendline and the horizontal support on the 1324 USD/oz. That is a very good place to start another bullish wave on this precious metal.
EUR/USD could wait with that a little bit more. Here, we are 20 pips away from a major support created by the up trendline and the horizontal area around 1.229. Bullish candlestick formation there would mean a strong buy.
USD/JPY could wait a little bit more too. Here, we are about 60 pips away from the mid-term down trendline and the major horizontal resistance on the 108.3. Any kind of a reversal pattern in that area would be a great bearish opportunity.
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