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Trianglebreaout

Bullish flag/pennant on GOLD. Possible sharp reversal.As we can see, the good ol' Dollar is THRASHING the yellow metal (GOLD). But as our analysis indicates to us, the Greenback's reign won't last for long as we can see that it is currently approaching the pennant/triangle support line/zone. With that being said, I believe that once the price tests our support line, we can expect a strong bullish movement and possibly even a breakout to the upside. I am currently bearish on the pair just until it hits the support line or somewhere near there. After that I'll be joining the bullish movement until it breaks the pennant resistance line. Alternatively, you can wait for the consolidation to fade out, in that case you will have to wait for a downward or upward breakout before entering a trade. HAPPY TRADING!
OANDA:XAUUSDLong
by WandileM
EURUSD Forecast: Euro Politics, Trade War and US CPI in focusThe pair tested 1.1400 level yesterday but ended up plummeting to 1.1305, as political turmoil in Europe alongside with a fading momentum in Wall Street benefited the greenback in the American afternoon. The market was in a much better mood with European indexes closing with solid gains amid some relief headlines related to the US-China trade war. Ongoing Brexit uncertainty, Italy budget concerns, soft macroeconomic figures of the Union add weights on Euro. I was very clear in previous forecasts, all possible upwards attempts would be used as selling opportunities by the USD Bulls. Today we will have the US CPI figures. The outcome will probably the most important determining factor of the direction of EURUSD.- Valid for XAUUSD as well – A better than expected numbers set may end the doubts on FED 2019 rate hikes. Technically: The pair is still trading in a “directionless zone” symmetrical triangle. This formation is usually a sign of consolidation ahead of another directional move in the main trend. A clear break below 1.13000, would start a new sell-off in EURUSD. The targets of the pair, lead by a bearish breakout of the triangle, will be 1.12500, 1.12100, 1.11600. and 1.10800.
Short
by chartreader_pro