That was a very eventful week, especially on Wednesday after the interest rate decision in US and after we found out their economic projections.
EUR/USD combined technical analysis and fundamentals. Doveish FED was supported by the inverse head and shoulder formation and by the correction equality pattern. Sentiment stays positive and we should see the price near 1.0840 anytime.
AUD/USD also was supported by both types of market analysis. Fundamentally weaker USD after FOMC and from the technical point of view we had a flag and iH&S - both pointing north.
Gold and AUD/USD are highly correlated with each other. On both instruments we saw an upswing. On gold we managed to come back above the 1220 USD/oz, which now will be the closest support. Bullish sentiment is back on XAU/USD and we can expect that we will soon test the resistance on the 1245 USD/oz.