First video from our Analytical team this weeks starts with the analysis of the Gold, where we do have a new buy signal as we speak. The price eventually broke the upper line of the pennant and went higher. That was expected by us in our previous pieces about this instrument. The positive sentiment, will be cancelled, when the price will break the lower line of the pennant, which as for now, is less likely to happen.
Second instrument is the USD/JPY, which wasted a great chance for a buy signal. The pair drew an inverse head and shoulders pattern bouncing from the major up trendline but failed to break the neckline. That failure can be a strong sell signal itself, especially that in the same time, we are having a wedge formation.
Third instrument is the Cable, where the price broke the lower line of the triangle pattern. That is a negative sign and activates the sell signal with he potential target on the lows from the middle of August.