MarketBreakdown | AUDUSD, GBPJPY, GOLD (XAUUSD), EURAUD

Hey traders,
here is a brief technical outlook of 4 peculiar instruments in my watch list.

1️⃣ AUDUSD - Daily time frame 🇦🇺🇺🇸

I see the signs of a bullish accumulation.
After the price reached 0.729 structure low, the market managed to set two consequent higher lows,
respecting the same highs and forming an ascending triangle.

If such a tendency continues, bullish breakout of the triangle will be a strong bullish signal
and bullish rally will initiate.

2️⃣ GBPJPY - Daily time frame 🇬🇧🇯🇵

I still remain bullish biased on GBPJPY.
With a confirmed bullish breakout of a major falling trend line
and a consequent formation of a dodji candle on that,
I believe that the pair will keep growing.

I also noticed a very nice intraday confirmation with a bull flag breakout on 4H

3️⃣ GOLD (XAUUSD) - 12 hours chart 🥇

Gold is trading in a consolidation.
For now, the market is ranging within a horizontal trading range.

Three main points to take into consideration:
Upper boundary of the range - 1832 - 1835
Middle of the range - 1810
Lower boundary of the range - 1789 - 1793

After yesterday's touch of the resistance of the range,
I believe that we will see a breakout attempt of the middle level
and a potential bearish continuation to the support of the range.
But do not expect the market to be fast.

Full video breakdown is here -

03:17

4️⃣ EURAUD - Daily time frame 🇪🇺🇦🇺

It looks like EURAUD is forming an expanding wedge pattern.
With three confirmed touches of its resistance, the price is probably going to hit its support.

I will look for a trend following opportunity from a lower boundary of the wedge.
Nice swing long can be caught from there.

❤️Please, support this idea with a like and comment!❤️

Comment:

Check my new analysis on EURGBP: