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Technical Analysis
Daily Market Analysis By zForex
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[QUOTE="zForex, post: 226988, member: 88093"] [ATTACH type="full"]26288[/ATTACH] [B]EUR/USD Sees Moderate Decline with Dollar's Gains[/B] After an uncertain and volatile move last week, the EUR/USD is showing a moderate decline today, driven by the dollar, which is showing some gains. The next target is likely to be the support area around 1.0850. [TABLE] [TR] [TD][B]Resistance 3[/B][/TD] [TD][B]Resistance 2[/B][/TD] [TD][B]Resistance 1[/B][/TD] [TD][B]Support 1[/B][/TD] [TD][B]Support 2[/B][/TD] [TD][B]Support 3[/B][/TD] [/TR] [TR] [TD][B]1.1100[/B][/TD] [TD][B]1.1050[/B][/TD] [TD][B]1.1000[/B][/TD] [TD][B]1.0850[/B][/TD] [TD][B]1.0750[/B][/TD] [TD][B]1.0800[/B][/TD] [/TR] [/TABLE] [B] [ATTACH type="full"]26289[/ATTACH] GBP/USD Consolidates Near 1.2700 Resistance[/B] The GBP/USD pair encountered strong resistance at 1.2700 and is consolidating around this level. The dollar's strength today is hindering a clear upward movement. A potential breakout above this level could drive the pair towards 1.2800, which serves as the next resistance and target, with a drop back to 1.2580. [TABLE] [TR] [TD][CENTER][B]Resistance 3[/B][/CENTER][/TD] [TD][CENTER][B]Resistance 2[/B][/CENTER][/TD] [TD][CENTER][B]Resistance 1[/B][/CENTER][/TD] [TD][B]Support 1[/B][/TD] [TD][B]Support 2[/B][/TD] [TD][B]Support 3[/B][/TD] [/TR] [TR] [TD][CENTER][B]1.2900[/B][/CENTER][/TD] [TD][CENTER][B]1.2800[/B][/CENTER][/TD] [TD][CENTER][B]1.2700[/B][/CENTER][/TD] [TD][B]1.2580[/B][/TD] [TD][B]1.2400[/B][/TD] [TD][B]1.2300[/B][/TD] [/TR] [/TABLE] [ATTACH type="full"]26290[/ATTACH] [B]USD/JPY Declines as Weaker Dollar Drives Toward 144.80 Support[/B] The USD/JPY pair continues to benefit from the weaker dollar, dropping further towards the next significant target at 144.80, followed by 142.00 if the trend continues. [CENTER][TABLE] [TR] [TD][B]Resistance 3[/B][/TD] [TD][B]Resistance 2[/B][/TD] [TD][B]Resistance 1[/B][/TD] [TD][B]Support 1[/B][/TD] [TD][B]Support 2[/B][/TD] [TD][B]Support 3[/B][/TD] [/TR] [TR] [TD][B]152.00[/B][/TD] [TD][B]150.00[/B][/TD] [TD][B]148.00[/B][/TD] [TD][B] 146.50[/B][/TD] [TD][B]144.80[/B][/TD] [TD][B]142.00[/B][/TD] [/TR] [/TABLE][/CENTER] [ATTACH type="full"]26291[/ATTACH] [B]Gold Shows Strong Bullish Sentiment, Targets 2070 for Further Upside[/B] Gold has moved significantly, reaching 2146 before stabilizing at 2120 and then falling back to 2080. The gold market is showing strong bullish sentiment with investors increasingly benefiting from its role as a safe haven. A daily close beyond the 2070 mark is essential to confirm further upward developments. [TABLE] [TR] [TD][B]Resistance 3[/B][/TD] [TD][B]Resistance 2[/B][/TD] [TD][B]Resistance 1[/B][/TD] [TD][B]Support 1[/B][/TD] [TD][B]Support 2[/B][/TD] [TD][B]Support 3[/B][/TD] [/TR] [TR] [TD][CENTER][B]2126[/B][/CENTER][/TD] [TD][CENTER][B]2085[/B][/CENTER][/TD] [TD][CENTER][B]2070[/B][/CENTER][/TD] [TD][CENTER][B]2027[/B][/CENTER][/TD] [TD][CENTER][B]2006[/B][/CENTER][/TD] [TD][CENTER][B]1979[/B][/CENTER][/TD] [/TR] [/TABLE] [B] [ATTACH type="full"]26292[/ATTACH] WTI Price Faces Resistance at 78, Retreats Towards 72 Support with Weak Fundamentals[/B] The WTI price is persistently declining after testing the 78 resistance level multiple times. Weak fundamentals are preventing oil from moving higher, and it is retracing towards its support level at the 72 support target. Oil remains volatile and challenging to predict in recent times. [TABLE] [TR] [TD][B]Resistance 3[/B][/TD] [TD][B]Resistance 2[/B][/TD] [TD][B]Resistance 1[/B][/TD] [TD][B]Support 1[/B][/TD] [TD][B]Support 2[/B][/TD] [TD][B]Support 3[/B][/TD] [/TR] [TR] [TD][CENTER][B]82.20[/B][/CENTER][/TD] [TD][CENTER][B]80[/B][/CENTER][/TD] [TD][CENTER][B]78[/B][/CENTER][/TD] [TD][CENTER][B]72[/B][/CENTER][/TD] [TD][CENTER][B]68[/B][/CENTER][/TD] [TD][CENTER][B]66[/B][/CENTER][/TD] [/TR] [/TABLE] [B] [/B] [/QUOTE]
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