Authored by TD Markets
In the ever-shifting landscape of financial markets, strategic investors are always on the lookout for promising opportunities. The recent developments, the market has shown intriguing movements in three key areas: GOLD, US30, and EURGBP. In this blog post, we'll delve into the bullish setup that seems to be forming in the GOLD market and explore the current movements of US30 and EURGBP.
The EURGBP Performance
(UPDATE) - EURGBP up +25 pips.
EURGBP completed the bullish continuation pattern according to the previous commentary, broke above the counter-trendline and pulled back before taking off. Traders used this pattern to confirm further upside momentum according to the descending structure as well as trading opportunities. According to this price action, traders anticipate the market to rally up to the resistance zone around 0.86330.
The US30 Performance
(UPDATE) - US30 on the move.
US30 successfully rejected the support zone as well as the 61.8 fib level according to the previous commentary. The bottom of the channel also added to the confluence and confirmed a continuation to the upside. At the moment traders are in the market and are holding on to their positions with targets set around the previous structure low of around 35000.00.
The XAUUSD (GOLD) Performance
(UPDATE) - GOLD hit the target.
GOLD is now trading at the resistance zone around 1937.00 which was the target for the bullish setup. The market previously completed the bullish continuation pattern and aggressively rallied to the upside. This price action confirmed bullish momentum as well as trading opportunities. Traders are now out of the market and are waiting for further price action to confirm a rejection to the downside or a break above and a continuation to the upside.
Fin Thoughts On Thoughts On This Analysis
In the world of finance, staying ahead requires a keen eye for emerging opportunities. The current landscape offers potential bullish setups in GOLD, dynamic movements in the US30, and exchange rate fluctuations in EURGBP. As always, it's essential for investors to conduct thorough research, consider risk factors, and make informed decisions based on a comprehensive understanding of the market dynamics. Subscribe to our YouTube channel to learn more about our analysis.
