Weekly Price Action Setups & Key Levels | Apr 17 - 22

xaueur price action

EUR/JPY – Corrective structure persists + pre-breakout structure (4hr chart)

The corrective structure mentioned in the commentary a few days ago continued throughout the week. The bulls never managed to push up and re-test the top of the structure. Instead every attempt to rally was countered by the bears earlier and earlier each time indicated by lower highs.

The structure shows a pre-breakout structure, further reinforcing our idea that a bearish continuation following this correction is likely.

The focus now turns towards 120.00 as the next target for the bears.

Only a daily close above 125.50 would change our MT bias which is bearish for now.

XAUEUR – Bearish Pullback Attempting to Base, ST Support Below (daily chart)
Gold has …

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