It's only a matter of time before EURUSD, GOLD, and GBPAUD take off. In the world of forex trading and precious metals, these three assets have been in the spotlight for various reasons. Traders and investors are closely monitoring their movements, and it seems that a significant breakout may be on the horizon.

The XAUUSD (GOLD) Performance

(UPDATE) - GOLD is trading above the 1855.55 support zone.

GOLD broke and closed above the previous resistance zone around 1855.55 and spent the whole of Tuesday retesting the zone. On the H4 timeframe, we can clearly see a bullish corrective wave forming which suggests that a continuation to the upside is on the way.

This price action is aligned with the bullish trend that formed on the weekly and monthly timeframe and as such traders are bullish. A break and close above the counter-trendline will increase the probability of the market pushing to the upside.

The GBPAUD Performance 

(UPDATE) - GBPAUD is now set to take off.

GBPAUD has now formed a bullish corrective wave and this adds to the confluence and also increases the probability of the market pushing to the upside. The second lower low of the pattern provided trading opportunities however traders will use the break of the resistance zone around 1.91662 to confirm the momentum to the upside.

The EURUSD Performance 

(UPDATE) - EURUSD is up +70 pips.

EURUSD has continued to push to the upside since the last commentary. It is now trading at the top of the channel however traders have targets set on the resistance zone around 1.06799. As such, traders are keeping an eye on the lower timeframe break of structures to the upside to confirm more bullish momentum.

Read More: The Ultimate Forex Trading Checklist

Final Thoughts On Today’s Analysis 

In conclusion, In the world of financial markets, timing is everything. EURUSD, GOLD, and GBPAUD have shown signs that they may be on the cusp of significant moves. Economic, political, and global factors are all playing a role in the potential take-off of these assets. 

Traders should stay vigilant, keep an eye on relevant news and data, and be ready for the moment when these assets finally take flight. It may indeed be only a matter of time before EURUSD, GOLD, and GBPAUD reach new heights or embark on their respective journeys towards success. Subscribe to our channel today to learn more about us.