During three days the market did not decide which side it is on: bulls or bears. Maybe it made a decision. Let’s consider particular cases.
So popular pair EURUSD went into side consolidation without specific price tendencies. The attempt to continue the correction was not successful as well as attempt to renew the growth. And as a result we see the disorder and fluctuation of quotations in a certain diapason.
It is still early to take up any position, one should wait for an adequate signal.
Pound sterling broke down actively the level of support of 1.6130, which was a signal for continuing the descent of GBPUSD pair. If you could not enter short position on Wednesday, it is pretty dangerous to do it now. If one enters now he should put stop loss higher than a current candlestick, higher than 1.6140. The impulse is good and the pair was trading almost without shifts towards main direction.
Similar situation may be observed on AUDUSD pair, only future descent can cover the level of 1.0150 (previous minimum) and the following support of 1.0100. Based on previously stated information one should not rush to make decisions, as there are open positions on AUDUSD it is possible to cut the profits with stop loss.
Gold as an insurance asset that keeps at its highest, thus forming deploying top. But there is no deployment and previous attempt to deploy the market failed. Purchases, while the quotations are lower than 1790, are not urgent as well. But the gold should be watched in terms of deployment or the continuation of trend, since usually gold’s exit from diapason is very volatile, there is a possibility of getting quick profits.Social button for Joomla