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Technical Analysis: Key Levels – Major Pairs & Gold – 12 JUL 2021

EURUSD, the next possible level is 1.19500 level.  On GBPUSD, the key level for the market to test next is 1.40000.  On AUDUSD, If the 0.75600 level is broken, then the next possible level will be 0.76500 level. On NZDUSD, If the 0.70000 level is broken, then the next possible level will be 0.70900. On USDCHF, there is a high probability for the market to test 0.91000 level this week and if broken then next level will be 0.90500. On USDCAD, the price is expected to drop, to test the 1.23600 or 1.23400 level. On USDJPY, there is a possibility for the price to drop further to test the 109.300 level. Finally, on GOLD trading, there is very high probability for the market to test the 1820.00 level and if that level is broken, than the next possible level will be the 1845.00 level.

DISCLAIMER: The publication of market analysis is a marketing communication and does not constitute investment recommendations. This content provides a general views of our experts and does not consider the individual circumstances, investment experience or current financial situation. AximTrade is not liable for any losses incurred due to the use of analysis.
Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. 

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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 trading, and cryptocurrencies.

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