Gold becoming bearish in the coming days
On the daily chart, Gold seems to be completing the right shoulder, this is indicative of a change in trend and the gold is now bearish.
Gold seems to be overbougt after that bullish move this morning. It looks like it will be bearish very soon.
Once the head and shoulder is completed the target will be 1.60709
This pair seems to be exhibiting bullish tendencies. See targets indicated on chart.
On the 1Hr time frame, there seems to be the formation of a head and shoulder. once this is completed there will be a bearish trend to the target indicated.
This pair seems to have broken the bearish trend that it was previously in. the trend now seems bullish ib the 1 hr chart within the channel indicated.
Once head and shoulders completed, the next target will be the support at 1.69615
I think we will see smaller movements within the blue bands. This is my outlook on gold
GBPNZD is currently in a strong bearish trend, however it is at a support level 1.93282. It is also on its way back up to the upper channel of its current trend. It may meet this channel and turn downwards breaking the second support to get to the lower channel at 1.90983. the other option is it may retest from the support at 1.93282 and go long to resistance...
If head and shoulders completed it could continue short to 1231.43.
Possible formation of reverse head and shoulders. the distance from the neckline to the head is 0.08494, so it is expected that an increase of 0.8494 will occur from the neckline at the end of the right shoulder. The resulting TP would be 1.42784. There is a resistance at 1.36550. it may retest at this point and once it breaks this line it may go all the way up to...
Three way drive to blue marker. This pair seems to be moving within the channel. RSI dropping indicating over sold. Time for some more bullish movements. This is my outlook for GBPUSD. Let me know your thoughts.