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EURUSD UP TREND NEXT MONTH

Charts: 1 HOUR,

The EUR/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H1).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the EUR/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…
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USDJPY DOWN TREND

Charts. 1 HOURE
The USDJPY has rallied strongly as visible in this daily chart (1H). This currency pair has formed a
rising wedge formation which is a reversal pattern and marked by red
lines in the above chart. We expect the USDJPY to correct back down
into its horizontal support zone which is marked in blue. The current
horizontal support zone is a very important one as it used to be a
strong resistance zone and heavy trading around those levels should be
expected.
Indicators: MACD RSI
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GBPUSD UP TREND NEXT MONTH

Charts: 1 HOUR,

The GBP/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H 1).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the GBP/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to …
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AUD/USD UP TREN NEXT MONTH

Charts: 1 HOUR,

The AUD/USD has corrected sharply after trading inside its horizontal as visible in this daily chart (H1).
This currency pair is now trading inside its horizontal support level
which is marked in blue in the above chart. We expect the AUD/USD to
rally higher and back into its horizontal resistance zone which is
marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…
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USDCAD DOWN TREND

Charts. 1 HOURE
The USDCAD has rallied strongly as visible in this daily chart (1H). This currency pair has formed a
rising wedge formation which is a reversal pattern and marked by red
lines in the above chart. We expect the USDCAD to correct back down
into its horizontal support zone which is marked in blue. The current
horizontal support zone is a very important one as it used to be a
strong resistance zone and heavy trading around those levels should be
expected.
Indicators: MACD RSI
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USDCHF DOWN TREND

Charts. 1 HOURE
The USDCHF has rallied strongly as visible in this daily chart (1H). This currency pair has formed a
rising wedge formation which is a reversal pattern and marked by red
lines in the above chart. We expect the USDCHF to correct back down
into its horizontal support zone which is marked in blue. The current
horizontal support zone is a very important one as it used to be a
strong resistance zone and heavy trading around those levels should be
expected.
Indicators: MACD RSI
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Gold up trend

Gold declined lower, as investors were switching their assets to the potentially more profitable US Dollar and US government securities.The commodity needs to hold below 1180.00 level, being the intraday Line of Control if the price action is to continue its downward move.An overnight trading range was formed between the 1157.00 and 1160.00 levels.The initial downside target is 1140.00, which is the extent of today’s Daily Average True Range downside projection.If the metal fails to maintain the…
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OIL DOWN TREND

Oil has bounced off the top of the downtrend channel, after surging higher on the FOMC statement.The commodity needs to hold below the 46.50 level, being the intraday Line of Control if the price action is to continue its downward move.An overnight trading range was formed between the 45.95 and 46.30 levels, with the commodity currently trading below it.The initial downside target being 45.00, which is the extent of next month Average True Range downside projection.If the commodity fails to main…
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