Top Forex Brokers : Exciting Week Ahead For August 19 – 25, 2024
 XAUUSDXAUUSD, currently in a long-term uptrend, has reached the trend line and is testing its all-time high (ATH). Despite strong bullish momentum, the price has hit the upper Bollinger Band, with a divergence appearing in the Money Flow Index (MFI).  •If gold breaks the trend line above 2490, the target is likely to be at 2550; •A rebound from the trend line can bring XAUUSD back to the support of 2385, corresponding to 61.8 Fibonacci.  USDCHFUSDCHF is consolidating at 61.8 Fibonacci in a long-term bearish trend after bouncing off the support. Despite the bearish sentiment, DeMarker has moved out of the oversold zone.  •If the price falls below 0.8665 support, it can return to 0.8500 level; •A rebound from the support will allow USDCHF to rise to 0.8880.  USDCADIn the Daily timeframe, USDCAD has formed a rising wedge pattern in a long-term bullish trend. The price reached the lower trend line and is holding near MA50.  •If USDCAD breaks the resistance at 1.3730 and MA50, it may rise to 1.3830 and then to 1.3880. •Breaking the trend line and falling below 1.3700 may prompt a bearish scenario to 1.3600. |
| *Trading Signal tips and analytics do not constitute a call to trade, trading advice or recommendation and are for information only. |
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