EURUSD Daily Analysis EURUSD (1.106): EURUSD failed to close back above 1.110 resistance yesterday with price action continuing to trade flat within 1.11 and 1.10 price levels. The daily chart’s price action shows a bearish flag being formed and could see a potential continuation to the downside on a break out below 1.10. On the 4-hour chart, the previously mentioned bear flag continues to be valid with price retesting the 1.110 level. The further downside could be therefore expected on a price breakout below 1.10. USDJPY Daily Analysis USDJPY (104.42): USDJPY rallied yesterday to close above 104 as noted. The daily chart is seen with prices consolidating within a descending wedge pattern with the potential to test the previous resistance at 106, last seen around June 23. In the near term, USDJPY could remain range bound between 106 and 102 levels. On the 4-hour chart, the hidden bearish divergence confirms the view for a potential correction to 102 – 101.5 support level. GBPUSD Daily Analysis GBPUSD (1.330): GBPUSD closed above 1.320 resistance yesterday and any dips could be supported above this level now. Establishing a base at 1.32 could see GBPUSD extend its gains towards 1.34 which marks a retest of the resistance level between 1.34 and 1.3420. The falling wedge shows a continuation to the upside with the main target at 1.3677 – 1.380. Extending the gains here could be seen as filling the gap as well as an establishing resistance at this level which could confirm renewed downside in the medium term. Gold Daily Analysis XAUUSD (1337.29): Gold prices broke below 1350 yesterday and could continue the declines albeit a brief retest back to 1350 to establish resistance. The upside remains capped for the moment until support level is established. 1300 remains a critical price level in this aspect and could keep prices supported in the near term. On the 4-hour chart, gold is seen bouncing off just a few points above the 1327.50 support level noted yesterday. 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 FTSE 100 and EURJPY Gregor Horvat 6 years EURUSD Daily Analysis EURUSD (1.106): EURUSD failed to close back above 1.110 resistance yesterday with price action continuing to trade flat within 1.11 and 1.10 price levels. The daily chart's price action shows a bearish flag being formed and could see a potential continuation to the downside on a break out below 1.10. On the 4-hour chart, the previously mentioned bear flag continues to be valid with price retesting the 1.110 level. The further downside could be therefore expected on a price breakout below 1.10. USDJPY Daily Analysis USDJPY (104.42): USDJPY rallied yesterday to close above 104 as noted.… 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.
