XAU/USD 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Gold set a four-month high at 1,258.62, but did not manage to sustain the area and started a fall inside the bounds of a channel down pattern. XAU/USD could ultimately confirm the bearish potential in a head-and-shoulders pattern with a neck-line at 1,188.64, meaning that the pair's bounce near the area and violation of the upper boundary, should not be considered a definite bullish signal and downside risks should not be neglected. The shoulder lies at 1,242.84 and suggests that the motion might be cut in favour of another downfall. If, however, the pair continues the downward motion, sticking to the broken trend-line 1,199.23 would become the next immediate target.
© Dukascopy Bank SA
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Tue, 14 Mar 2017 13:08:55 GMT

USD/CHF 4H Chart: Channel Down

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Tue, 14 Mar 2017 08:16:16 GMT

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