XAUUSD
Gold price encountered strong support around 3,250 level and bounced up to 3,360. If 3,250 is broken and cleared, the lower high will form at 3,360, and the gold price will be out of the trading range between 3,250 and 3,434.
At the moment, it looks like the gold will be range bound for a while.
EURUSD
For the past week, the EURUSD pair hovered between 1.17 and 1.18, taking a breather.
The up trend is still intact, hence the bias is still to go long. However, as the EURUSD is now quite far away from the 50 day EMA, we need to be careful of the pull back.
USDJPY
The consolidation for USDJPY continues between 142.8 and 145.
Not a nice time to trade this pair now.
AUDUSD
Just like the other pairs, AUDUSD was also consolidating in a tight range between 0.652 and 0.659.
This pair is also difficult to trade as there is no trend to ride on.