I am banking on XAUUSD to follow a price pattern that USDSGD printed earlier this year. If the same happens, we have a long setup.
USD bulls are in charge at moment but common feature of these forex pairs is how easily they could switch to reversal. Charts of EURUSD, GBPUSD, USDSGD, USDCNH.
Eyes on GBPUSD, GBPJPY with BOE monetary policy, bank rate tomorrow at 7pm. Observations: both pairs are down trend, parked at resistance. 3 charts.
15 August 2018 could be turning point for USD as we can see sharp spikes in most majors followed by u-turn the next day. Overlay shows winners, losers among major pairs.
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Price action on USDCHF, USDSGD and GBPUSD all agree that USD is likely to continue strengthening. GBPUSD has the clearest setup.
Instead of common bearish reversal patterns, USDSGD is printing a potential bullish continuation. It is doing a correction/retracement after which USD is likely to continue strengthening.