EURUSD, the next possible level is 1.19000 level. On GBPUSD, If close below 1. 37600 level is broken, then the next possible level will be 1.36800, if not price may rise to 1.39000 level. On AUDUSD, expected to test 0.73700 level before start rising and test the 0.74500 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 the next level will be 0.90500. On USDCAD, the price is expected to drop, to test the 1.24700 level. On USDJPY, there is the 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 again 1800.00 level before start rising to test the 1845.00 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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