CADJPY H4 - As mentioned, very similar to the S/R on EJ, here is CJ. Currently trading above that 80.00 whole number and above the active S/R zone, if we can hold above and see our typical H1/H4 price action reversals we could see some long opportunity.
Gold prices surged as risk appetite withered across global financial markets. That pushed bond yields down alongside stocks, boosting the appeal of non-interest-bearing alternatives including the Gold itself. Crude oil also took a beating.
If we look at the higher timeframe, we're still on course for a continuation of the uptrend despite being stuck in a...
AUDUSD & GOLD have a positive correlation, because Australia is the 3rd biggest Gold producer, so I believe as the price of Gold increases, so will AUD and from technical stand point we're looking for a a re-test of daily trend resistance and continuation of the up trend over the course of the week.
A bullish Shark has formed up I will go long once market open, my Initial Stops and Target as listed.
If you like to have better reward:risk you have to wait for the price retrace back to point D to engage the trade, significant adjustment, the disadvantage is that you may miss the trade.
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I think price is at a critical trend line, zone and a retrecement because of the channel, i expect price to fall to the 38% retracment or to the daily trend line that is formed because of the ascending triangle.
