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Technical Analysis by FXOpen
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  1. #1
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    Technical Analysis by FXOpen

    EUR/USD AND USD/CHF REMAIN SUPPORTED ON DIPS

    EUR/USD is trading nicely above the 1.1280 support and it could continue to move higher. USD/CHF is currently correcting lower, but it remains supported on dips near 1.0050.

    Important Takeaways for EUR/USD and USD/CHF
    • The Euro traded higher recently and tested the 1.1320 resistance area against the US Dollar.
    • There is a major contracting triangle in place with resistance near 1.1305 on the hourly chart of EUR/USD.
    • USD/CHF climbed higher recently above the 1.0000 and 1.0050 resistance levels.
    • There is a crucial bullish trend line formed with support at 1.0050 on the hourly chart.


    EUR/USD Technical Analysis

    The Euro started a solid rebound after forming a support base above the 1.1200 and 1.1220 levels against the US Dollar. The EUR/USD pair climbed above the 1.1250 and 1.1280 resistance levels to move into a positive zone.

    Continue reading on FXOpen blog...

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  3. #2
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    GBP/USD and EUR/GBP: Can British Pound Bounce Back?

    GBP/USD declined heavily and broke the 1.3050 support area. EUR/GBP is currently correcting lower, but it is still trading above a crucial support at 0.8640.

    GBP/USD Technical Analysis

    The British Pound struggled to stay above the 1.3120 and 1.3100 levels against the US Dollar. The GBP/USD pair started a downward move and broke the 1.3050 and 1.3020 support levels.



    The pair even broke the 1.3000 support and settled below the 50 hourly simple moving average. It traded as low as 1.2978 on FXOpen, and recently started consolidating losses. It moved above the 1.2990 level and the 23.6% fib retracement level of the recent decline from the 1.3052 high to 1.2978 low.

    Continue reading about GBP/USD and EUR/GBP technical analysis and important takeaways...

  4. #3
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    Gold Price and Crude Oil Price Rally Significantly

    Gold price rallied sharply and broke the $1,350 and $1,400 resistance levels. Similarly, crude oil price gained bullish momentum and broke the $55.00 resistance area.


    Gold Price Technical Analysis

    Gold price formed a solid support base above $1,350 and recently rallied above $1,380 against the US Dollar. The price gained bullish momentum above $1,390 after the Fed indicated possibilities of a rate cut in the near future.



    The recent upward move was strong since the price even broke the $1,400 resistance area and settled above the 50 hourly simple moving average. It climbed towards the $1,415 level and a new monthly high was formed near $1,411 on FXOpen.

    Read more about Gold and Crude Oil technical analysis and its important takeaways

  5. #4
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    GBP/USD And USD/CAD: US Dollar Could Slide Further

    GBP/USD started a fresh increase and traded above the 1.2700 resistance area. Conversely, USD/CAD declined heavily and broke the 1.3200 support area to enter a bearish zone.

    GBP/USD Technical Analysis

    The British Pound found support near 1.2500 and 1.2510 against the US Dollar, and recently started a fresh increase this past week. The GBP/USD pair broke the 1.2550 and 1.2600 resistance levels to move into a positive zone.



    The recent upward move was positive since there was a close above the 1.2650 level and the 50 hourly simple moving average. The pair even broke the 1.2700 level and recently traded close to the 1.2750 level on FXOpen.

    Read more about USD/CAD and GBP/USD technical analysis and its important takeaways...

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