AUD/NZD — Bearish Setup
Price is showing rejection around the 1.2000 resistance / supply zone after respecting the descending channel structure.
Price is showing rejection around the 1.2000 resistance / supply zone after respecting the descending channel structure.
GBPAUD 4H Chart Analysis – Shavyfxhub Strategy
Gold continues to maintain its bullish trend as price remains above key support levels and continues to trade above the rising trendline. The EMA structure also remains bullish, with EMA34 above EMA89. Currently, price is consolidating above the S1 support zone (4620–4625).
Balance of buyers and sellers on the GBPCAD pair, that is best felt when all the timeframes are analyzed properly is shifting in favor of the sellers, therefore is it only natural that we go short on the pair.
USDCHF is correcting after being rejected near the upper edge of the rising channel. The decline has brought price back to the lower trendline, which has supported the trend several times before.
Gold is trading around 4,565 after extending its bullish recovery, supported by continued US Dollar weakness and rising concerns over US debt. This improves gold’s safe-haven appeal and keeps buyers active near the highs.