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EURJPY (4H) - weekly bullish bias
The pair has been moving sideways after its sharp rise a week ago. The higher lows in the triangle flag indicates buyers' commitment to support the price. The consolidation is expected to break with a strong momentum before the end of the week. The RSI has eased off into the neutral territory, and more buying interests could be...
EURGBP (1H) - intraday bearish bias
The euro came under renewed selling pressure following its break below the daily support of 0.89. We expect the pair to drop within a well-defined channel. The upper band coincides with the 20-period moving average on the 4H chart, and could act as a strong resistance. The next target would be the psychological level of 0.8800,...
Gold (1H) - intraday bullish bias
The precious metal is about to break out of its 3-day-long triangle consolidation. With the Fed widely expected to lower the interest rates by 25 basis points later today, bullion has room for a broader rally, especially if officials' tones appear to be more dovish in their forward guidance. 1493 is a major support in the...
WTI (1H) - intraday bearish bias
The oil price is likely to stay in retreat as it is filling the gap left by the Sunday gap. Buyers are likely to be lurking around the psychological level of 58, which coincides with the 61.8% Fibonacci retracement level. Though the 20-hour moving average has proved to be a solid resistance level and we can expect the price to...
GBPAUD (1H) - intraday bullish bias
The pair has achieved a series of higher highs after breaking through the resistance of 1.8110. We can expect the price action to test the daily resistance of 1.8330 in the coming hours. As the relative strength is inching towards the 80% area, both moving averages will act as support in case of a pullback.