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Daily analytical report (06/12/17)

  • Gold made a significant move yesterday, which actually triggered a sell signal. The price broke through the upwards trend line, the lower line of the triangle, and the horizontal support at 1,267 USD/oz. That is quite a lot for a few hours of trading. We’ve currently got a small reversal but this is more likely a correctional movement than a proper pullback or rejection.
  • The US dollar index broke the upper line of the flag and defended the horizontal support at 92.7 points. This is positive, but we do not have a proper buy signal yet. For that, we need to break the horizontal resistance at 93.5 points.
  • AUDJPY is combining the weaker-than-expected GDP from Australia with the bearish technical situation. The price broke the lower line of the wedge and then the horizontal support at 85.8. Later, we defended that as a resistance with two nice shooting stars. Finally, today, we got confirmation of the trend with a strong bearish candlestick. According to the principles of price action, we have a sell signal here.

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