EURUSD Daily Analysis EURUSD (1.12): EURUSD has closed a third consecutive session to the downside but the daily chart shows prices likely to remain above $1.120 lower support level briefly. A break below this going by the bearish momentum could see further downside in store but prices could bounce off the 1.120 handle on the first test of support. Below 1.12, 1.113 – 1.1105 support will be the next level of support to watch for, which could keep EURUSD biased to the upside. USDJPY Daily Analysis USDJPY (112.37): USDJPY has moved up and is currently trading at the ¥112.0 support level but a confirmation with a higher low is needed to validate the upside as ¥114.0 resistance is likely to cap the gains in the short term. Overall, the long-term view for a test to ¥117 remains on the cards. On the 4-hour chart, 112.50 will be the first level of resistance that needs to be cleared, following which a test to ¥114.7 – ¥114.35 is likely. To the downside, if ¥112.5 resistance holds, USDJPY could remain range bound within ¥111.31 while a break below this support could see the bearish trend resume. GBPUSD Daily Analysis GBPUSD (1.41): GBPUSD has fallen to the 1.42 support following the doji candlestick pattern that was formed last Friday and this Monday’s bearish close. The daily chart shows the hidden bearish divergence with the oscillator forming a higher high against price’s lower high opening up room for further downside. With the support at $1.4263 being broken on the 4-hour chart, a pullback to this level could establish resistance, in which case GBPUSD could fall to the lower support at $1.4025 – $1.40. Gold Daily Analysis XAUUSD (1234): Gold prices are looking to move lower following yesterday’s rally back to $1250 handle. With prices being rejected at this level and the current bearish declines, Gold prices are likely to continue lower towards the $1200 support. In the short term, watch the support near $1230 – $1225, which if holds could see Gold bounce back but remain range-bound below the $1250 handle. Only a close back above the $1250 will shift the current downside bias to neutral. 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 AUDUSD: Flat near completion Gregor Horvat 7 years EURUSD Daily Analysis EURUSD (1.12): EURUSD has closed a third consecutive session to the downside but the daily chart shows prices likely to remain above $1.120 lower support level briefly. A break below this going by the bearish momentum could see further downside in store but prices could bounce off the 1.120 handle on the first test of support. Below 1.12, 1.113 - 1.1105 support will be the next level of support to watch for, which could keep EURUSD biased to the upside. USDJPY Daily Analysis USDJPY (112.37): USDJPY has moved up and is currently trading at the ¥112.0 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.