EURUSD, next possible resistant at 1.20500 level once 1.19500 level is broken. On GBPUSD, the key level for the market to test is the 1.40000, if broken than 1.40900 level next . On AUDUSD, expecting a drop to test the 0.75600 level before rising to find resistant at 0.76500 level. On NZDUSD, 0.70000 level will be the next re-test level. On USDCHF, expected a new support at 0.91000 level. On USDCAD, the next possible support level will be around 1.22000 level. On USDJPY, expecting a breakout of 109.900 level and test the 109.300 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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