GBPJPY has failed to close above key zone on the H4. Looking at lower timeframes we are seeing volume change and equal lows on the 15 which could make a HnS pattern signalling market downwards moments.
Gold has broken out of the consolidation during the London session has H4 closure over the key zone.closing above the 61.8% fib level. This gives me some confidence gold is looking to give up to the $1580 - $1582 area.
AUDUSD has broken below key support turning it into resistance. Since this happens to be a daily head shoulders neckline also this gives me confidence in a further downwards cycle to be shown by AUDUSD .
GBPUSD dipped on MLK day probably due to no banks in the market however, its respecting bullish fibs. ITs showing nice H4 rejection of the zone and was a H1 correction. We could now see impulsive moves higher to make new highs in the market.
This Pair has broken out of a strong support zone with a bearish engulfing with a retest happening on the h1 where dojo candles are forming showing rejection of the zone.
Confirmations for trade:
Bearish engulfing breaking support.
Retest candles on H1
H4 and H1 MA showing bearish volume in market
NY open under support becoming resistance.
XAUUSD has closed below the 1555.50 Key zone which has been a strong barrier previously. Having Broken this zone during Asian session/ pre London. This is a retest opportunity to potentially see the market fall further. The H4 did not engulf and close above the zone to give us potential long entries.
We have a strong bullish engulfing at Key Zone Support. With 15 min volume change and structure break to give us confluence for a entry to take the market up keeping in mind this is a bearish market. Taking profit at key zones and previous consolidation areas.
The MA have shown momentum shift into a bullish push. Price has stayed above the psychological level with a bullish engulfing signalling momentum into a bullish one with a retest to give us a entry to take the market up.