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Technical Analysis

EUR/USD Intraday: 

Bearish


Pivot: 1.1039

Resistance level 1: 1.1066 Resistance level 2: 1.1101 Resistance level 3: 1.1127

Support level 1: 1.1004 Support level 2: 1.0978    Support level 3: 1.0942

Comment: The pair was trending bearish throughout the day, breaking the first support level of 1.1017 during the American trading session. If the bears continue, the price could fall to 1.1004 and possibly extend lower to 1.0978. Alternatively, if the bulls come out in force again, the price could rise to 1.1066 and possibly test the second resistance level of 1.1101

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USD/JPY Intraday: 

Neutral


Pivot:  108.33

Resistance level 1: 108.58 Resistance level 2: 108.72 Resistance level 3: 108.97

Support level 1: 108.19 Support level 2: 107.95 Support level 3: 107.80

Comment: The pair was trending neutral throughout day before it gained upward momentum in the American trading session breaking the first resistance of 108.31. If the bulls continue, we could see the price rise to 108.58 and possibly break the second resistance level of 108.72. Alternatively, if the trend reverses, we could see the price drop to 108.19 and plummet further to 107.95.

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GBP/USD Intraday

Bullish


Pivot: 1.2474

Resistance level 1: 1.2508 Resistance level 2: 1.2547 Resistance level 3: 1.2581

Support level 1: 1.2436 Support level 2: 1.2401 Support level 3: 1.2363

Comment: Neither the bulls nor the bears were able to gather meaningful momentum today, with the pair trending neutral. If the bears can gain momentum, the support level of 1.2436 might be broken and we could see the second support level of 1.2401. However, if the bulls gather momentum, they could break the price of 1.2508 and possibly test 1.2547. 

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AUD/USD Intraday

Bearish


Pivot: 0.6837

Resistance level 1: 0.6861 Resistance level 2: 0.6893 Resistance level 3: 0.6918

Support level 1: 0.6804 Support level 2: 0.6779 Support level 3: 0.6747

Comment: The pair was trending bearish throughout most of the day breaking the first support of 0.68405. If this downwards momentum continues, we could see the pair break the first support level of 0.6804 and extend further down to the price level of 0.6779. Alternatively, if the pair rises to 0.6861 then the resistance of 0.6893 might be tested.

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NZD/USD Intraday

Bearish

Pivot: 0.6325

Resistance level 1: 0.6351 Resistance level 2: 0.6387 Resistance level 3: 0.6413

Support level 1: 0.6289 Support level 2: 0.6263 Support level 3: 0.6238

Comment: The pair was trending bearish throughout the day, testing the first support level of 0.6308. If this momentum can be maintained the pair could fall to 0.6289 and possibly break the second support level of 0.6263. On the other hand, if the pair gains upwards momentum, the price level of 0.6351 could be broken, which could take the pair to 0.6387

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USD/CHF Intraday

Bullish

Pivot: 0.9961

Resistance level 1: 0.9995 Resistance level 2: 1.0018 Resistance level 3: 1.0053

Support level 1: 0.9938 Support level 2: 0.9903 Support level 3: 0.9879

Comment: The pair had upwards momentum breaking the first resistance level during the American trading session. If the bulls can gain momentum, the resistance level of 0.9995 might be broken and we could see the second resistance level of 1.0018 tested. However, if the bears gather momentum, they could break the price of 0.9938 and possibly test 0.9903.  

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USD/CAD Intraday

Bullish

Pivot: 1.3279

Resistance level 1: 1.3319 Resistance level 2: 1.3351 Resistance level 3: 1.3391

Support level 1: 1.3247 Support level 2: 1.3207 Support level 3: 1.3176

Comment: The pair is continuing to trend bullish, with the pair breaking yesterday’s first resistance level during the American trading session. If this trend continues, we could see today’s first resistance level of 1.3319 broken and possibly see the price level of 1.3351 tested. On the other hand, if the bears gain momentum the price could drop to 1.3247 and possibly break the second support level of 1.3207. 

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DOW JONES INDEX

Bullish

Pivot: 27074

Resistance level 1: 27252 Resistance level 2: 27353 Resistance level 3: 27531

Support level 1: 26974 Support level 2: 26796                Support level 3: 26695

Comment: The trend of DOW JONES tends to be bullish again. During the last trading session, the index was opened with a downward trend and once broke below the first and second support levels, from where the bulls gathered the momentum before New York market closed and managed to recoup the previous loss, closing at 27151.7, above the open price. For the further reference, bulls may bounce the price further up to a region of 27252 and test the level of 27353. On the other hand, if the price breaks below the support level of 26974, it may see the area of 26796.

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Gold Spot Intraday

Bearish

Pivot: 1496.2

Resistance level 1: 1509.1 Resistance level 2: 1524.4 Resistance level 3: 1537.3

Support level 1:   1480.9 Support level 2: 1468.0               Support level 3: 1452.6

Comment: The trend of gold tends to be bearish. In last trading day, gold experienced a sharp downward direction before New York market closed and closed below the first support level of 1494.0. If the bears continue to take advantages today, we might see the pair break below 1480.9 and may drop further to 1468.0.  Alternatively, if the bulls regain momentum and break above the first resistance of 1509.1, it may see the price of 1524.4.

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Crude Oil Intraday

Bearish

Pivot: 58.31

Resistance level 1: 59.07 Resistance level 2: 59.99 Resistance level 3: 60.76

Support level 1: 57.38 Support level 2: 56.62 Support level 3: 55.69

Comment: The trend of crude oil remains bearish. During last trading day, the price was relatively steady without testing any support or resistance levels, but bears took slight advantages, dragging the price to 58.15, which is below the open. For further reference, if the bears retain the momentum, the price may break below 57.38 and drop further to the level of 56.62. On the other hand, the price climbing above 59.07 may see the it rising to 59.99. 

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