Forex Analysis
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USDJPY: Analyzing the Uptrend and Key Levels
If you’ve been keeping an eye on the USDJPY currency pair, you’ll notice it’s currently moving within a rising price channel on the 4-hour chart. This pattern indicates that the pair is still in an uptrend, originating from the 141.64 level. As long as the price remains within this channel, we can anticipate further upward…
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EUR/USD Update: Sideways Movement Between 1.0810 and 1.0871
The EUR/USD pair is currently moving sideways in a trading range between 1.0810 and 1.0871. The key resistance is now at 1.0871. As long as 1.0871 resistance holds, this sideways move could be seen as consolidation for the downtrend from 1.1213. A breakdown below 1.0810 support could trigger a further downside move to the 1.0780…
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EUR/USD Update: Extended Downside Move to 1.0810 with Consolidation Ahead
The EUR/USD pair has extended its downside move from 1.1213 to a low of 1.0810. The subsequent bounce from 1.0810 might be a consolidation phase for the ongoing downtrend. Key resistance is at 1.0880. As long as this level holds, the downside move is likely to resume. A breakdown below 1.0845 could trigger another fall…
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EUR/USD Update: What to Watch as the Pair Declines
The EUR/USD currency pair has seen a significant drop, falling from a high of 1.1213 to as low as 1.1032. This decline has pushed the price below the key support level of 1.1068, raising concerns about further downward movement in the coming days. As we look ahead, the next critical support level to keep an…
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GBP/USD Analysis: A Shift Below Key Support Levels
The GBP/USD currency pair has recently made a notable move, breaking below the crucial support level of 1.3312. This decline has taken the pair down to as low as 1.3237, indicating that the upward trend that began at 1.3001 may have concluded at the recent high of 1.3434. As we look ahead, there’s potential for…
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GBP/USD Analysis: What’s Next for the Currency Pair?
The GBP/USD currency pair has recently broken below the lower boundary of its rising price channel on the 4-hour chart. This development indicates that a longer consolidation phase is likely needed before the uptrend that began at 1.3001 can continue. In the coming days, we can expect range trading between the levels of 1.3312 and…
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GBP/USD Analysis: Uptrend Continues Within Rising Price Channel
If you’re keeping an eye on the GBP/USD currency pair, there’s some interesting movement to note! Currently, the pair is maintaining its position within a rising price channel on the 4-hour chart, indicating a continued uptrend that began at 1.3001. As long as the support level of this channel holds firm, we can expect the…
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EUR/USD Market Update: What’s Next After Recent Pullback?
The EUR/USD pair recently broke through the 1.1200 resistance level, peaking at 1.1213 before experiencing a pullback to as low as 1.1121. This movement raises some interesting questions about the current trend and what traders might expect moving forward. As long as the price remains above the rising trend line observed on the 4-hour chart,…
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EUR/USD Update: Breakout Above Resistance Signals Resumption of Upside Move
The EUR/USD pair has successfully broken above the 1.1188 resistance after a period of sideways consolidation within the range of 1.1068 to 1.1188. This breakout suggests that the upward movement from 1.1001 has resumed. In the coming days, further rises are anticipated, with the next target set around the 1.1250 area. A move above this…
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EUR/USD Update: Trading Range and Consolidation
The EUR/USD pair has failed to break above the resistance at 1.1188 and remains in a trading range between 1.1068 and 1.1188. As long as the support at 1.1068 holds, this sideways movement can be viewed as consolidation for the uptrend that began at 1.1001. There is still the potential for another rise to retest…
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EURUSD Update: Key Resistance and Support Levels to Watch
At present, EURUSD is encountering resistance at the 1.1188 mark. This level is crucial because if the pair manages to break above it, it would signal a continuation of the upward movement that began at 1.1001. A successful breakout here could lead to further gains, with potential targets reaching the 1.1250 area and beyond. If…
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EUR/USD Update: Pullback After Failed Breakout at Resistance
The EUR/USD pair has encountered resistance at 1.1201, failing to break above this level and pulling back from 1.1188 to 1.1068. This decline is likely a correction within the uptrend that started from 1.1001, suggesting that another attempt to rise and test the 1.1201 resistance may occur following this correction. Initial resistance is at 1.1110.…