Ahead of the CPI data, the USD is a bit weaker. Rest of the market is still influenced by the tensions over the Korean Peninsula. Risk OFF mode is still with us with the stocks heading lower and save heavens like Gold or CHF climbing higher.
EURUSD bounced of a long-term up trendline with the two hammers on the D1 chart. We also used the tops from 2015 as a local support. Not mentioning a nice, technical wedge. That sets the sentiment as positive.
EURAUD broke the upper line of the bullish wedge and aims north. Breakout was expected as before it, the price consolidated below the resistance. Hint for the price action traders: when you see such movements, chances for a breakout increase significantly.
Gold broke the line connecting long-term lower highs. 1300 USD/oz is the closest target right now.
Watch the video to find out more!