Gold starts this week on the front foot. Today, the precious metal is making new yearly highs and is currently fighting on a very important horizontal resistance around the 1307 USD/oz. This area is crucial for the Gold since the early 2015. Once buyers will manage to break this resistance, the way towards the 1357 will be opened. We said that few times before: history likes to repeat itself and last few years on Gold always started with an upswing.
Next instrument is the Bitcoin, where since the 10th of January, the price was locked inside of the sideways trend. This trend was shaped like a rectangle (yellow) and our outlook on this was bearish – we were expecting the price to go further south. With this breakout, the way towards the 2900 USD is opened and this is my mid-term target for this crypto.
Last one is the EURUSD, where the last week's ECB gave us a false breakout pattern (yellow). That was a false breakout below the mid-term up trendline and actually a false breakout from the flag formation. The result of this is a massive upswing, which looks really promising. My view on the main pair in the next few days is positive.