EURUSD Daily Analysis EURUSD (1.14): EURUSD closed in a small bodied candlestick pattern yesterday which could indicate a temporary pause to the decline while at the same time opening the risk for another move to the upside. Prices are seen to be well supported by 1.1470 support, and unless the support breaks, there is a potential for EURUSD to test the upside in the near term. On the 4-hour chart, EURUSD is forming a steep bullish flag pattern that could signal further upside. But the previous highs at 1.15925 must be cleared for further upside in prices. USDJPY Daily Analysis USDJPY (107.1): USDJPY continues to push higher on the daily chart with the Stochastics nearly signaling a bullish reversal. Resistance is seen near 108 – 107.85, which needs to be cleared on a daily session to signal further upside to the next main resistance at 110.672. On the 4-hour chart, we notice a hidden divergence, with the Stochastics printing a higher high against price’s lower high indicating a near-term downside. Support is seen near 106.60 which needs to hold failing which, USDJPY could resume its declines to test the previous lows. GBPUSD Daily Analysis GBPUSD (1.45): GBPUSD continued to drift lower but so far has not tested the support at 1.44250. The 4-hour chart shows a possible retest to the upside near 1.4635 – 1.45845 to test the breakout level. Establishing resistance here could signal the downside to 1.4425 followed by 1.4312 – 1.430. The bearish bias is invalidated if GBPUSD closes above the identified resistance level, in which case, price action could continue pushing higher towards 1.4740. Gold Daily Analysis XAUUSD (1281.5): Gold prices posted a two-day low yesterday, but the declines were quickly rejected with prices closing back higher. Support at 1275.99 was clearly strong enough to push gold back above this level. Resistance at 1291 – 1289 remains likely to be tested, and a break above this resistance could open further upside in gold. A break below 1275 could, however, see gold prices dip to the next support at 1262 – 1258 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 Calm between the storms? Yohay Elam 6 years EURUSD Daily Analysis EURUSD (1.14): EURUSD closed in a small bodied candlestick pattern yesterday which could indicate a temporary pause to the decline while at the same time opening the risk for another move to the upside. Prices are seen to be well supported by 1.1470 support, and unless the support breaks, there is a potential for EURUSD to test the upside in the near term. On the 4-hour chart, EURUSD is forming a steep bullish flag pattern that could signal further upside. But the previous highs at 1.15925 must be cleared for further upside in prices. USDJPY Daily… 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.
