US Dollar, Mexican Peso, South Korean Won and African Rand invite discussion
1 min read
US/MXN continues with a terse Bull Flag pattern. It increased over 30% to an unrivaled high of nearly 25.36, previous to pull back and finally dashing the multi-week uptrend.
USD/KRW is probably to witness a pithy pierce after recovering an imbue, month-long declining resistance channel and an inflection point at 1219.7.
Though USD/ZAR initially rose a bit more than 22% since the beginning of the elevation, has currently incapacitated from its all time high at 19.0340.
The XAU/USD needs to break that resistance trend line before an uptrend confirmation is possible. A breakout, pullback, and continuation pattern would help confirm the break. The target is aiming at the $1800-1820 zone. A failure to break could indicate a retest of the support zone first. A break below the support zone most likely invalidates the bullish outlook.
