Key levels and Analysis
EURUSD, there will be a correction move to test again the 1.18000 level before dropping even further to test the 1.17000 level. On GBPUSD, there is a high probability for the market to drop even further to test the 1.38000 level. On AUDUSD, expecting a continuation move towards 0.73000 level and if that level is broken then, the next possible level will be 0.72300 level. On NZDUSD, if the 0.70000 level is broken then the next possible level to test is the 0.69500 and 0.69000 level. On USDCHF, there is a very high probability for the market continues to rise and test the 0.92000 level. On USDCAD, expecting market continue to rise to test the 1.26000 level. On USDJPY, the market is likely to continue rising to test the 110.700 level. Finally on GOLD, expecting price continue to drop to test the 1700 level before starts rising to test the 1750 level.
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Forex Education and Market Analysis
To start trading forex it is important to enhance your investment skills with forex education in order to master acquire the knowledge and to learn the trading glossary and main forex terms. Explore the detailed guide of AximDaily education for beginners and learn forex trading strategies and trading plans. After getting a sufficient forex education and being comfortable with the basics, you will be able to actively trade using a live forex account or ECN account.
Technical analysis is another method of forex analysis and is commonly used by investors to analyze the price movements and predict the market. 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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