Market SWING Technical Analysis!

OANDA:XAUUSD   Gold Spot / U.S. Dollar

Here is my SWING Technical analysis of the market!

1) USD-JPY 1 Day Timeframe:

USD-JPY is trading in an uptrend in a rising channel
Which suspiciously resembles a massive bear flag
But as long as the support remains unbroken
I am bullish on the pair and I am expecting the uptrend to continue
Until the pair hits the 110.9 level
Bullish Bias!

2) USD-CHF 1 Day Timeframe:

USD-CHF is trading in an opening wedge on the daily
And the falling resistance remains unbroken
Which gives me bearish bias
However, the pair has clearly established a double bottom
And found a horizontal support level
Which is a bullish sign, and therefore, a breakout either way
Will determine the further direction of the price moves
Mixed Bias!

3) GOLD 3 Day Timeframe:

Gold was trading in a rising channel for some time now
But the precious metal has hit a falling wedge resistance
And broke out of the rising channel
Indicating a change of the trend from the uptrend to the downtrend
And therefore, I am bearish mid-term
Bearish Bias!

4) GBP-USD 3 Day Timeframe!

GBP-USD broke the horizontal support on 4H timeframe
And looks bearish locally, however,few people bothered looking at the 3D chart
And here we can see that the pair is trading in a massive rising channel
And the support of the channel remains unbroken
Thus, I remain bullish on the pair long term
At least until after I see a breakout of the channel downwards
Bullish Bias!

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