EURUSD intra-day analysis EURUSD (1.0674): EURUSD attempted a bullish recovery yesterday, but price failed to break out above 1.0700 level thus establishing a resistance level at this point. The downside continuation is likely as the single currency will now retest 1.0644 support which previously offered a bounce in prices. A higher low above 1.0644 could signal a potential retracement back to 1.0737 resistance level on a breakout above 1.0700. Still, EURUSD remains biased to the downside with 1.0600 target in sight. GBPUSD intra-day analysis GBPUSD (1.2511): GBPUSD was subdued in yesterday’s trading but the price action earlier today suggests the potential for GBPUSD to retest the support at 1.2400, which is proving to be critical price level for the cable. A retest and bounce off 1.2400 could signal a continuation to the upside and would keep GBPUSD on target towards rallying to 1.2800. Market participants were expecting BoE policy maker, Jon Cunliffe to offer some remarks on interest rates after the day before, his fellow policy maker Kristin Forbes said that higher interest rates were needed. Mr. Cunliffe kept his speech focused on the business investment in the UK offering little in terms of policy guidance. The key event risk for the British pound today will be the speech by Bank of England Governor, Mark Carney who is expected to speak at an event. NZDUSD intra-day analysis XAUUSD (1239.74): The rally in gold prices look to be nearing its end with $1241.10 resistance so far proving hard to beat since the past five 4-hour sessions. The rally to this resistance comes amid a strong hidden bearish divergence on the daily chart which exposes the support level at $1200.00. However, on the 4-hour chart, initial support can be seen at $1220 ahead of further declines towards $1200.00. Expect to see another attempt in gold to break out above 1241.10 before the correction resume. Alternately, in the event that gold prices break out above 1241.10, the next main resistance comes in at $1250 provided the breakout is convincing. 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 Fractured EMU facing threat from populism: how will EUR Felipe Erazo 6 years EURUSD intra-day analysis EURUSD (1.0674): EURUSD attempted a bullish recovery yesterday, but price failed to break out above 1.0700 level thus establishing a resistance level at this point. The downside continuation is likely as the single currency will now retest 1.0644 support which previously offered a bounce in prices. A higher low above 1.0644 could signal a potential retracement back to 1.0737 resistance level on a breakout above 1.0700. Still, EURUSD remains biased to the downside with 1.0600 target in sight. GBPUSD intra-day analysis GBPUSD (1.2511): GBPUSD was subdued in yesterday's trading but the price action earlier today suggests… 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.
