Using the previous week analysis on the 4hr timeframe to confluence USDJPY weekly analysis we see that weaker dollar caused by fundamental remarks/issues and bad economic data Gold broke its trend and looks to be starting a run of higher highs and higher lows. This can be confirmed by the inverted head and shoulders pattern better seen on the daily, also a potential EMA cross would add to the list of confirmations which looks like a possibility. If the dollar continues to weaken 1240 zone seems like reasonable upside target.
Comment:
Analysis running well.. gold currently in the supply zone
Comment:
Showing signs of rejection in the supply zone.. cool analysis !
