EURUSD, next possible level is 1.19500 level. On GBPUSD, the key level for the market to test next is the 1.39000. On AUDUSD, If the 0.75600 level is broken, than the next possible level will be 0.76500 level. On NZDUSD, a slight drop to test again the 0.70000 level and rise back to test the 0.70900 level. On USDCHF, If the price closes below the 0.92000 level this week, the market is more likely to test the 0.91000 level. On USDCAD, price expected to drop, to test the 1.22000 level. On USDJPY, there is possibility for a breakout of 110.700 level and test the 109.900 level. Finally on GOLD, expecting a re-test of 1800 level, if breaks the next possible level to test will be 1820 level.
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Technical analysis is a very common method used by investors to analyze the financial markets. The main benefit of learning forex technical analysis is to identify the relationships between price/volume and market indicators such as the moving average and MACD, etc. Why technical analysis is important for forex trading? According to studies, most successful forex traders rely on technical analysis to study the market. In the forex market, traders can use technical analysis to analyze the major pairs, Gold, and cryptocurrencies.
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