EURUSD Daily Analysis EURUSD (1.12): Closing with a bullish piercing line candlestick pattern on the daily chart, EURUSD is likely to push higher in the near term. With prices trading below 1.130, this level of minor resistance remains the initial level that could cap the upside. A break above 1.130 could send the EURUSD back into the trading range of 1.140 – 1.130. The 4-hour chart shows EURUSD level of 1.13 marking the breakout of prices from the consolidating triangle. The downside remains as long as prices don’t break above 1.135 – 1.137. USDJPY Daily Analysis USDJPY (110.9): USDJPY is inching lower with the hidden divergence formed on the daily chart and the recent lower high formed at 111.889 yesterday. Support comes in at 109.8 – 109.5 region which could mark a retest of the upside breakout on the daily chart. USDJPY remains biased to the upside as long as prices remain above the 109 levels, failing which a quick descent towards 108.95 is likely. GBPUSD Daily Analysis GBPUSD (1.44): GBPUSD remains biased to the upside but yesterday’s price action closing at a spinning top could see some downside unless prices close above previous highs of 1.4519 indicating further continuation to the upside. On the 4-hour chart, the ascending wedge pattern is likely to see prices dip lower. Initial support at 1.443 – 1.4425 is key, and a break below this level could see GBPUSD test the new support at 1.431 – 1.430. As long as GBPUSD holds above this support, there is potential for the upside momentum to continue. A break below the support could, however, see GBPUSD decline lower to test the previous lower support at 1.415 – 1.412. Gold Daily Analysis XAUUSD (1236): Gold prices managed to post a modest recovery following Friday’s declines. On the 4-hour chart, Gold is currently consolidating into a bearish flag pattern which could indicate further downside to 1200. However, support at 1230 – 1227.5 needs to be cleared for gold to move lower. In the near term, gold could remain consolidated near 1243 – 1227/1230 levels. 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 Elliott Wave Analysis on AUDUSD and Silver Gregor Horvat 6 years EURUSD Daily Analysis EURUSD (1.12): Closing with a bullish piercing line candlestick pattern on the daily chart, EURUSD is likely to push higher in the near term. With prices trading below 1.130, this level of minor resistance remains the initial level that could cap the upside. A break above 1.130 could send the EURUSD back into the trading range of 1.140 - 1.130. The 4-hour chart shows EURUSD level of 1.13 marking the breakout of prices from the consolidating triangle. The downside remains as long as prices don't break above 1.135 - 1.137. USDJPY Daily Analysis USDJPY (110.9): USDJPY… 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.
