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Gold & Forex Analysis on 04/12
Brief analysis of gold trends and some currency pairs on H4 time frame
XAU / USD
Gold has risen as expected and this is the strongest rally in recent days. Currently, the price has approached the level of 1480 so it is likely that there will be corrections. Those who are short-term should consider exiting or moving SL. Depending on how the price retracts, we will have a suitable trading plan, for example, if the accumulative price area is flagged, then once the model is complete we can continue to buy. The next target is zone 1490-1500.
USD / JPY
The pullback on USDJPY is quite short and quick to get in. Currently, the price is approaching the lower boundary of the upward channel, so an adjustment might appear but the drop is quite strong so the correction will be shallow. The view for today is that the price will continue going down, the target price zone is 108, if any brothers have kept short, they can keep the order and move the SL.