The USD strengthened after the hawkish Fed decision... but just for a while. Then, the price reversed, pushing the dollar index and USDJPY lower, and Gold and the EURUSD pair higher. Thanks to those movements, we got some interesting trading setups on a few instruments. Be careful though! In a few hours, we will have a similar portion of data from the ECB.
Gold defended the long-term upwards trend line and broke the upper line of the triangle. The price should continue to go up. At least, until it reaches the resistance at 1306USD/oz.
The EURUSD pair bounced from the horizontal support and also broke the upper line of the triangle. What is more, at the end of the Asian session, traders tested that line as a support, which has increased the chances of a further upswing.
The EURAUD is another pair with a buy signal. Here, we have a bounce from the horizontal support, breakout of the mid-term downwards trend line, and the inverse head and shoulders formation. But wait, there 's more! We also broke the neckline and the horizontal resistance around the 23.6% Fibo level. The buy signal seems legitimate.