As you can see on the chart, price has broken the TL and retested at around 0.4250. Unless we see another retest of the TL, we should see price rocket up to the next resistance level around 0.5200. This correlates well with the current price action Bitcoin is showing as we are potentially looking at a drop from the psychological area of $10,000 anytime soon.
i do believe xauusd will close above the weekly trendline this week. We have seen today that the usd pairs have weakened and i see gold playing catch up at some point either later today or tomorrow, seeing as it has lagged behind in the last few hours.
Inverse Head and Shoulders in play after a nice double bottom at 0.7450. While GBPUSD and EURUSD have melted today and yesterday, AUDUSD has held on to the support level at around 0.7400. I expect price to come back to 0.7650 levels with a potential break of this resistance back up to 0.7750.
SL - 0.7445
TP 1 - 0.7650
My bias is still long on this pair as we have just seen a deeper pullback.
On the daily TF it looks as though we are seeing a retest of the resistance turned support at 0.7950. I suspect price to rise from here with NFP on Friday potentially pushing price up past 0.8050 to create new highs