In today’s market review for January 16th, we sum up the trading week. The US Dollar showed good movement, strengthening against major currencies.
We analyze the current situation with Gold, which has formed a "Triangle" pattern on the 4-hour chart. We discuss why a downward breakout towards 4500–4450 is the most likely scenario. We also review the successful short trades on EUR/USD and GBP/USD, the "mysterious" behavior of AUD/USD, and the continued growth of Oil driven by geopolitical factors (Trump and Iran).
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