Classic Gold and USDCHF negative correlation in play
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We saw gold consolidate in a bear flag, which is normally a bearish pattern. Market then broke below 1862, key support level on the H4 timeframe. We could see a continuation leg down to 1826.
USDCHF is negatively correlated to gold and we saw it consolidate in a falling channel which is normally a bullish pattern on the daily chart. We then saw the market reverse at 0.92 with a bullish daily hammer candle, signaling that buyers have stepped back in.
We could see USD strengthen as these two play out.
USDCHF is negatively correlated to gold and we saw it consolidate in a falling channel which is normally a bullish pattern on the daily chart. We then saw the market reverse at 0.92 with a bullish daily hammer candle, signaling that buyers have stepped back in.
We could see USD strengthen as these two play out.
Transakcja zamknięta: osiągnięto wyznaczony cel
Gold reached Target and USDCHF was choppy and closed out manually
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