DEC 4 - FOREX CHART ANALYSIS - GOLD, USDJYP, AUDUSD
Here are some notable analysis of various charts for today, December 4th.
Gold 1-hour chart
I have been following the Bullish Flag of the gold chart and found out that gold can continue to rise after this trend. Today, fortunately, it did. The rising pattern after the Bullish Flag is impressive. Gold has risen significantly, passing the Resistance band. This is a clear sign for the possible increase in gold price in the future. The next pattern is likely to continue to be the Bullish Flag. Let’s wait for the price to go down to buy. The perfect broker with low gold spread is HotForex.
USD/JYP 1-hour chart
The USD/JPY buy price hit bottom in its strong declination yesterday. So, USD/JPY has had 2 consecutive fall. This trend can be seen clearly on the chart. We should wait to sell USD/JPY from the strong PPZ zone above.
AUD/USD 1-hour chart
The rising trend of AUD/USD recently has been significant. In the first two days of the week, AUD/USD increased by 100 pips without any strong adjustment phase. It’s likely that we would have a corrective wave. Let’s wait for AUD/USD to finish correcting and buy it. The broker with lowest AUD/USD spread is Exness.
NZD/USD 1-hour chart
The trend of NZD/USD is even more significant than that of AUD/USD. This is a scary sharp rise. The pattern is obviously rising. We should definitely buy NZD/USD today.