XauUsd could correct to the upside

In my Friday comment, I said that XauUsd is contained in a descending channel and the first notable support is the confluence support from the 1850 zone.
However, looking at a shorter time frame we can see that the price is trading in a tight channel and, usually, this type of pattern leads to a reversal.
Also, bears look tired and need to catch their breath and in the Asian session, we have a strong reversal from 1885 of around 100 pips.
That being said, we can see some upside momentum for Gold with the first resistance coming into place at the 1905-1910 zone followed by the 1930 important one.
I’m bullish on the short term as long as the recent low is intact.

EurUsd could drop under important support

Since the recent 1.13 top, EurUsd started to fall, with rallies clearly sold.
Also, the mid of August is marked by a break under the ascending trend line that kept the price elevated for almost a year.
At this moment the pair is trading exactly at the horizontal support and a break also under this support is probable.
In such an instance EurUsd could drop to the next important support that lies 200 pips under.
I’m looking to sell rallies for EurUsd and an ideal price could be 1.0950 with negation above 1.1150 for a 1:3 risk: reward trade.

EurJpy could finally reach 160

Since the beginning of July, EurJpy has been pretty volatile with hundreds of pips fluctuations and at the end of the month, the pair even dropped 700 pips in only a week.
However, the pair recovered and the trend remains extremely bullish.
Mid-August is marked by a new local high and after a top around 159, a normal correction followed.
This correction comes to confirm the recent break and now we can consider this old resistance support.
As long as the pair stays above this support bulls hold the upper hand and the trend remains strong with a test of 160 very probable.
In conclusion, buying dips near support could be a good idea and if we keep stop loss tight we could also have a very good risk: reward for such a trade.