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Thread: Technical Analysis Update

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    Default Technical Analysis Update

    Hy Good Afternoon, Technical Analysis Update________________03/05/2021.





    EUR / USD Technical Analysis

    The EUR / USD pair has moved below the stability line. The local target has been set at 1.2020. Today the market is trading around it in a new stability range. We expect to move above 1.2077 to correct the level. After this work, we expect a decrease of 1.2000.

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    GBP/USD Technical Analysis


    The pound is trading at a low of 1.3764 against the US dollar. After that, we expect the expansion threshold to increase. As it declines, it plans to continue its bearish wave at 1.3676. The goal is local.

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    USD/JPY Technical Analysis


    Against the Japanese yen pair, the US dollar has set the growth threshold at the height of the growth wave and today, when it moves upwards, it suggests considering the possibility of rising to the level of 110.00. We will only consider it as an alternative to the expansion of development. The central scenario is expected to reach 108.44. The goal is first.

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    AUD/USD Technical Analysis


    The Australian dollar continued its downward trend against the US dollar at 0.7700. Today, the market is creating a range of stability around it. After moving upwards, the correction potential will open at 0.7777. Going down, a decrease of 0.7600 level is possible.

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    Gold Technical Analysis


    Gold corrected to the level of 1757.50. Today the market is trading above it in a range of stability. We expect the development structure to be ready by 1808.60. And with a break from this level, consider the continuation of the trend at 1856.00.

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    Technical Analysis by Shahzaib Munir, Thank You.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.

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    Munawar Azeem (03-05-2021)

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    Chart Art: Trend and reversal plays on USD / CAD and AUD / NZD



    We're not testing one, but today, two commool swing trades, yo!

    USD / CAD appears ready for reversal while AUD / NZD is dealing with a fake out.

    What do you think?



    AUD/NZD TECHNICAL ANALYSIS



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    A few weeks ago I talked about AUD / NZD for daily channel support.
    Well, Bears seems to have more members in the club than we do! A.U.D before the Bulls rebound and reach the 1.0720 zone. / NZD has become a short-term city.

    Is the AUD / NZD ready to return to a long-term uptrend? The pair is not only broken beyond the descending channel resistance, but also traded above 100 SMA in a 4-hour time frame. In fact, we are currently knocking on support for the broken trendline in April.
    Australian bulls can wait for the AUD / NZD to trade beyond long-term trendline support before aiming for inflection points like 1.0870 and 1.0950.

    Bears, on the other hand, need to be aware of possible denials on the trend line. If the AUD / NZD sees new bear pressure, they should be ready to trade Australia up to 1.0720 or 1.0650.



    USD/CAD Technical Analysis



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    A spy with the possibility of reversal!


    The USD / CAD boasts double bottom potential after being supported twice in the 1.2270 zone in the last few days.
    You can move beyond the 1.2300 "neckline" to the previous support level of 1.2385.

    But what if the USD / CAD returns to the recession without seeing a legitimate retracement?

    Note the new May lows that could drag USD / CAD to long-term support close to 1.2250 and 1.2100.


    Thank You.

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.

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    Hi Good Morning Friend___________________Update__________06/05/2021.



    AUDCHF, "Australian Dollar vs Swiss Franc"


    The exchange rate of the Australian dollar to the Swiss franc is 0.7070; the tool is moving below the market cloud, thus indicating a downward trend. The market may indicate that the price may test the cloud's upward boundary of 0.7075, and then continue to move downward to 0.6925. Another signal to support a further downtrend will be a rebound in resistance. However, if the price breaks the upper limit of the cloud and is fixed above 0.7105, the bearish situation may no longer be valid. In this case, the currency pair may continue to grow towards 0.7210. In order to confirm a further decline, the asset must break the downward boundary of the triangle pattern and be fixed below 0.6995.
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    CADCHF, "Canadian Dollar vs. Swiss Franc"


    CADCHF is trading at 0.7448; the instrument is moving above the city cloud, thus indicating an upward trend. The market may indicate that the price may test the upper limit of the cloud at 0.7415 and then continue to move upward to 0.7585. Another signal to support a further rise will be a support rebound. However, if the price breaks through the downward boundary of the cloud and is fixed below 0.7310, the bullish situation may no longer be valid. In this case, the currency pair may continue to fall to 0.7225.
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    CHFJPY, "Swiss Franc vs Japanese Yen"

    CHFJPY is trading at 119.68; the instrument is moving above the city cloud, thus indicating an upward trend. The market may indicate that the price may test the downward boundary of the cloud at 119.05 and then continue to move upward to 121.30. Another signal that supports a further uptrend will be the rebound of the falling boundary of the ascending channel. However, if the price breaks through the downward boundary of the cloud and is fixed below 118.45, the bullish situation may no longer be valid. In this case, the currency pair may continue to fall to 117.55.
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    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    Forex Technical Analysis and Forecast 07.05.2021



    AUDUSD, "Australian Dollar vs. US Dollar"
    Technical Analysis


    After setting another stability limit around 0.7740, AUDUSD is expected to break it and form another uptrend with a short-term target at 0.7794. After that, the device can start a new decline to return to 0.7740 and then start rising again with the target at 0.7818. As we can see in the H4 chart, a wage on the MACD pushed AUDUSD to 23.6% Fibonacci; Right now, the asset is still testing this level. This stability can offer two possible scenarios for asset selection. The first one means a further up trend to reach a height of 0.8007. The second scenario suggests that the pair may break the negative side and continue to improve towards 0.7500 and 0.7380 to 50.0% and 61.8% Fibonacci, respectively.

    AUDUSD's H1 chart shows that after completing the corrective downtrend at 50.0% Fibonacci, the pair is forming a new wave upside with the nearest target at local altitude (0.7818). If the price breaks this level, it may continue to move towards 61.8% and 76.0% Fibonacci at 0.7826 and 0.7893 respectively. Local support is low at 0.7532.

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    USDCHF, "Swiss France vs. US Dollars" Technical Analysis


    After completing the structure descending to 0.9106 and setting a new stability limit around this level, the USDCHF has broken down to reach the short-term target at 0.7970. Today, the currency pair may correctly test below 0.9106 and then start trading downwards with a target of 0.9050.

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    XAU/USD, "Gold vs. US Dollar" Technical Analysis


    After removing the structure that climbed to 1805.50, gold has increased it to 1821.40. Presumably, today the metal may start a new correction to return to 1805.50 and then start trading upwards with a target at 1900.00. As we can see in the H4 chart, another improvement is being made in this tool. Closer to the support level, however, after creating several reversal patterns, such as Dodge, XAUUSD is reversing. In this case, the reverse target of the correction may be the resistance area at 18400.00. At the same time, a contradictory scenario suggests that the price may continue to improve to 1800.00 before resuming its growth.

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    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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