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Market Analysis

Technical Analysis: Key Levels – Major Pairs & Gold – 26 JUL 2021

EURUSD, next possible level is 1.19000 level.  On GBPUSD, If close below 1. 37600 level is broken, than the next possible level will be 1.36800, if not price may rise to 1.39000 level.  EURUSD, if close above 1.18450 level this week the next possible level for the market to test is the 1.19000 level. On GBPUSD, there is high probability for the market to drop till 1.36800 before start rising to test the 1.39000 level. On AUDUSD, expecting a correction move towards 0.74500 level. On NZDUSD, there is high probability for the market to test again 0.69400 level before start rising to test the 0.70900 level. On USDCHF, there is high probability for the market to test 0.91000 level this week and if broken than next level will be 0.90500. On USDCAD, price expected to drop, to test the 1.24700 level. On USDJPY, market is expected to test the 110.700 level before dropping to test again the 109.900 level. Finally on GOLD, there is high probability for the market to test 1820.00 level this week and if broken than next level will be 1845.00.

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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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