EURAUD traders are sitting patiently as they await for the structure to complete. The bears are still in control as seen by the break of the daily ascending trendline as well as the trend continuation structure to the downside. Traders are anticipating the market to create the 3rd top to complete the structure for the next bearish impulse wave.
EURJPY is retracing to the 61.8 fib level as well as the demand zone after creating a higher high. The bulls are keeping a close eye on that zone for a cheaper price to add more long positions as they anticipate the start of the bullish trend. To further confirm this strength of the EURO against the YEN at this point is the fact that the market broke above the descending channel.
GOLD bulls and bears are undecided at this point as the market is stuck on the support zone. Structurally the market is forming a retest of the broken descending channel which indicates there are some bulls still in the market. An aggressive rejection of the support should give a clear picture of the next move.