U can see the 3 stages, where price been moving for the last days. As well as Triangle that expected to be broken, before the bull take control.
Very Risky Situation, but considering the correlation with another pairs. Expected that price go up.
1) RSI is near oversold area.
2) Price Entered the Stage 2, and ...
We can see the 4 section where price moved for the past days. By considering the POWER of the each stage, we can say that price felt down to the point of the next stage. And power of bears are gone for a while, BULLS TIME.
Why long? heh
1) Range of the stage are completed ( Volume reached it's pick)
2) Supported ...
XAUUSD In long term is up trending. The target to reach is previous highs at 1375.00. Before that moves in a bullish channel, where price is locked at the moment, expected to touch the "gold" tend line at least twice. Good LONG trades are at FIBO 0.382 and 0.5
EURGBP at the moment in corrective mood, i would prefer to wait until good impulse from bearish or bullish side.
In my opinion before the impulse, we gonna see a PULLBACK, that means:
1) Bearish Pullback>Bullish Impulse.
2) Bullish Pullback>Bearish Impulse.
Let's see how the market will act on new trading week =)