EURUSD Daily Analysis EURUSD (1.115): EURUSD declined to 1.1150 minor support yesterday posting a low at 1.1140. Price action is likely to see a short term reversal around the current levels to rally back towards 1.120. The untested resistance level which previously acted as support is like to be tested near 1.138 – 1.140 level if price action manages to hold out at the current support and breakout from the falling price channel. To the downside, below 1.1150, EURUSD could likely continue its declines towards 1.110. USDJPY Daily Analysis USDJPY (109.88): USDJPY is still consolidating within the 50 and 20 day EMA’s on the daily chart with price action trading flat for the most part. However, multiple attempts to clear above 110.67 resistance is likely to see USDJPY pull back lower to 107.95 – 108.0 support levels. The 4-hour chart shows the USDJPY breaking out from the median line and bounce off the support at 109.73 – 109.35. Forming a lower high here, a break of the lower support could see a test to 108. GBPUSD Daily Analysis GBPUSD (1.46): GBPUSD reversed its declines yesterday to close back at 1.4635 resistance. A close above this resistance zone between 1.4743 – 1.4635 is needed for further upside. Support at 1.4425 remains in focus and could likely hold any further declines. On the 4-hour chart, price action has formed a lower high after testing 1.4635. A follow through from this resistance could see GBPUSD test the downside to 1.4312 – 1.430. Gold Daily Analysis XAUUSD (1228): Gold prices broke down strongly yesterday testing the 1230 support level. Further downside is likely to see gold prices test 1190 support. To the upside, any pull backs could see prices stalling near the 1264 – 1270 resistance. On the 4-hour chart, the support zone at 1230 – 1225 has been holding prices so a near term retracement is likely towards 1250. 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 German IFO beats with 107.7 – EUR/USD ticks up Yohay Elam 6 years EURUSD Daily Analysis EURUSD (1.115): EURUSD declined to 1.1150 minor support yesterday posting a low at 1.1140. Price action is likely to see a short term reversal around the current levels to rally back towards 1.120. The untested resistance level which previously acted as support is like to be tested near 1.138 - 1.140 level if price action manages to hold out at the current support and breakout from the falling price channel. To the downside, below 1.1150, EURUSD could likely continue its declines towards 1.110. USDJPY Daily Analysis USDJPY (109.88): USDJPY is still consolidating within the 50 and… 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.