EURUSD Daily Analysis EURUSD (1.12): Continuing from Friday’s price action, EURUSD is back trading near the 11th February highs of 1.1323 – 1.130 level of resistance. A break above 1.13 is essential for EURUSD to post new highs, failing which, below the resistance zone low of 1.120, a dip back to 1.11 is possible. On the 4-hour chart, price action in EURUSD is currently seeing a consolidation following the rally over the past few days. As such, 1.13350 resistance on the 4-hour chart will be critical for further price action with 1.1202 – 1.119 coming in as the lower support. A break below this support could see EURUSD test the next support at 1.113 – 1.1105. As long as EURUSD is supported above 1.11, the bias remains to the upside. USDJPY Daily Analysis USDJPY (111.5): USDJPY broke below 112.0 support level but managed to close Friday’s session with a modest bullish price action. A close back above 112.0 could see further upside in store, but price action’s rally could be limited to the 114.35 – 114.70 resistance. The 4-hour chart shows a strong bearish divergence forming on prices above the 111.31 support. A close above 112.0 – 112.50 will confirm the move towards 117.0 – 117.25 if the interim resistance level of 114.35 – 114.70 gives way. To the downside, below 111.31, a test to 110 is evident. GBPUSD Daily Analysis GBPUSD (1.44): GBPUSD formed a doji candlestick pattern on Friday and if today’s bearish price action closes below the low of 1.441, a short-term correction is on the cards. On the 4-hour chart, price action is already showing bearish signs with the occurrence of doji candlestick patterns above 1.448 with a minor support formed at 1.443. A break below this level could see GBPUSD slip towards 1.4263 – 1.4247 support. The bias remains to the upside, as long as GBPUSD remains above the aforementioned support, failing which, a dip to 1.4025 – 1.40 support is possible. Gold Daily Analysis XAUUSD (1251): Gold prices are likely to close on the third day of bearish declines, following the small bodied candlestick patterns formed above the 1250 level which has retested the breakout from the daily chart’s rising wedge pattern. However, 1250 still remains a key support with Gold biased to the upside. A break below 1250 could see Gold prices decline towards 1230 – 1225 support. John Benjamin John Benjamin John is a market analyst for Orbex Ltd. and is a forex and equities trader having been involved in trading since late 2009. John makes use of a mix of technical and fundamental analysis and inter-market relationships. The analysis present here is a mix of intra-day analysis while considering the long term outlook of the markets as well. For any comments or questions, John can be reached at [email protected] View All Post By John Benjamin Daily Look share Read Next ABX expands with Finemetal Asia deal Yohay Elam 6 years EURUSD Daily Analysis EURUSD (1.12): Continuing from Friday's price action, EURUSD is back trading near the 11th February highs of 1.1323 - 1.130 level of resistance. A break above 1.13 is essential for EURUSD to post new highs, failing which, below the resistance zone low of 1.120, a dip back to 1.11 is possible. On the 4-hour chart, price action in EURUSD is currently seeing a consolidation following the rally over the past few days. As such, 1.13350 resistance on the 4-hour chart will be critical for further price action with 1.1202 - 1.119 coming in as the lower support.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.