EURUSD Daily Analysis EURUSD (1.13): EURUSD closed on a bullish note yesterday at 1.13378 recovering the losses from the previous week and settling above 1.130 level of resistance. Price action is seen to be currently pulling back, and a close below 1.13 could keep the currency range bound within 1.120. On the 4-hour chart, we notice price action potentially reversing near the median line and this could be confirmed on a close below 1.13, which will likely see further declines lower towards 1.120 where support could now be established. There is also a large triangle pattern that is forming which could see a potential move towards 1.1105 – 1.113 lower support if 1.12 gives way. USDJPY Daily Analysis USDJPY (112.26): USDJPY barely managed to test the 112.0 support yesterday, and we expect another dip back to confirm this support ahead of any further gains. If 112.0 support fails, USDJPY could potentially move lower towards 111.0 levels while to the upside, rallies will likely be stalled near the 50 period EMA, which currently sits near the horizontal confluence of 114 – 114.5 levels. On the 4-hour chart, USDJPY is below the 112.5 support which could open the way for a dip to 111.31 if 112.0 fails to hold prices. GBPUSD Daily Analysis GBPUSD (1.43): GBPUSD formed a doji candlestick pattern again yesterday near the 1.443 resistance. A bearish close today below yesterday’s low of 1.436 could confirm another leg to the downside with a test back to 1.42 likely. On the 4-hour chart, short term support at 1.426 – 1.424 could offer a short term bounce, but a break below this level could see GBPUSD decline back lower to test the previous support at 1.4025 – 1.40 region. Gold Daily Analysis XAUUSD (1228): Gold prices reversed the previous day’s gains with prices closing near 1223 following a test to 1240 – 1250 levels of resistance. Further downside is likely if price action moves closer and breaks the previous day’s low. However, Gold is currently in the support level identified at 1230 – 1225, which could offer a short-term support. Only a break below this level will see further downside towards $1200. 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 Closing the first quarter Anat Dror 7 years EURUSD Daily Analysis EURUSD (1.13): EURUSD closed on a bullish note yesterday at 1.13378 recovering the losses from the previous week and settling above 1.130 level of resistance. Price action is seen to be currently pulling back, and a close below 1.13 could keep the currency range bound within 1.120. On the 4-hour chart, we notice price action potentially reversing near the median line and this could be confirmed on a close below 1.13, which will likely see further declines lower towards 1.120 where support could now be established. There is also a large triangle pattern that is forming which… 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.