EURUSD intra-daily analysis EURUSD (1.0609): EURUSD managed to slip below the support level at 1.0500 before pushing higher with the price now seen trading at 1.0600 handle. This could signal further upside in the near term with the support at 1.0551 likely to hold up the prices for the moment as the single currency could be seen targeting 1.0700. On the 4-hour chart, price action is showing signs of a potential ascending triangle pattern within the rising median line which puts the minimum upside target to 1.0800 following the break of the strong resistance at 1.0700. USDJPY intra-day analysis USDJPY (114.50): USDJPY is seen approaching the 114.00 support level after prices topped out near 118.00. Expect a short-term bounce off 114.00 on the initial test of this level which previously acted as resistance. However, the upside could be limited in the near term with USDJPY likely to stay range bound within 116.00 and 118.00 levels. The daily Stochastics looks to be edging closer to the oversold levels which could see a short term bounce ahead of further declines. On the 4-hour chart, USDJPY could be seen retesting the 115.25 price level to establish resistance following which the dollar is looking weaker as it could potentially test 109.75 – 109.50 support to the downside. XAUUSD intra-day analysis XAUUSD (1198.77): Gold prices are trading close the 1200.00 handle which could see this strong correction finally reach its intended target. Further upside can be seen coming only on a convincing close above 1200.00, but there is scope for a pullback following the retest to the round number resistance level. The daily Stochastics is now confirming the hidden bearish divergence which could signal a correction lower. On the 4-hour chart, gold prices posted a pullback to 1181.50 and posted a strong reversal off this level. For the moment, watch for a reversal near 1200.00, as gold prices could see some downside momentum potentially push prices lower back to 1160 – 1161.00. 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: USD Index and Crude Oil January 12 2017 Gregor Horvat 6 years EURUSD intra-daily analysis EURUSD (1.0609): EURUSD managed to slip below the support level at 1.0500 before pushing higher with the price now seen trading at 1.0600 handle. This could signal further upside in the near term with the support at 1.0551 likely to hold up the prices for the moment as the single currency could be seen targeting 1.0700. On the 4-hour chart, price action is showing signs of a potential ascending triangle pattern within the rising median line which puts the minimum upside target to 1.0800 following the break of the strong resistance at 1.0700. USDJPY intra-day analysis… 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.
