Gold under a cluster of resistances

In yesterday’s post, I said that my bias for Gold is still bullish, however, confirmation is needed to consider a higher low in place.
Yesterday, after a double touch of 1930 short-term resistance, XauUsd consolidated and stayed in the middle of the newly formed range.
As we can see the the posted chart, we are still under resistance and, in fact, the price is under a very important level between 1930 and 1935, given by the falling trend line and 2 important horizontal levels.
A break above this level could trigger a lot of stop losses and we could have acceleration to 1980 in such an instance.
On the other hand, a break under the recent low could lead to further losses toward the 1870 low with interim support at the 1900 zone.

UsdJpy could correct to support level

Yesterday, UsdJpy opened with a gap of almost 100 pips.
After a low at 146, the pair started to rise, and looks like it wants to fill this gap.
Last week of trading UsdJpy consolidated and considering yesterday’s open, a correction could be next.
In my opinion, rallies around 147.50 should be sold and, considering a stop loss above the recent high, a 1:3 risk:reward trade could be achieved if the pair drops to support.

EurUsd could resume its down move

On 8 September I wrote that a relief rally could be next for EurUsd and this should be considered an opportunity for traders to sell rallies around resistance and join the downtrend at better prices.
Indeed the pair rose and reversed exactly from under 1.0780 resistance.
The recent rise is corrective in nature and formed a flag pattern and we could see a new leg down.
I remain bearish under 1.08 and my target is the 1.0550 zone with interim support at the recent low.