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Daily Forex Technical Analysis By Capital Street Fx
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[QUOTE="capitalstreetfx06, post: 333429, member: 106330"] [HEADING=2]Daily FX Analysis – EUR/USD, GBP/USD, AUD/USD, USD/JPY Dynamics.[/HEADING] [HEADING=2]Introduction[/HEADING] EUR/USD hovers near 1.0880, tracing the 38.2% Fibonacci level in the early European session, driven by a US Dollar retracement. Wednesday’s bullish momentum to 1.0930 retreated later as the USD rebounded. Investors await the ECB’s policy announcements. GBP/USD experiences a downturn after reaching a two-week high, currently trading around 1.2710. AUD/USD faces a second day of losses at 0.6570 amid an enhanced US Dollar, reacting to positive S&P PMI data. USD/JPY retreats from a one-week peak following the Bank of Japan’s hawkish stance. [HEADING=2]Markets In Focus Today – EUR/USD[/HEADING] [HEADING=2][B]EUR/USD Moves Lower To Near 1.0880 Followed By The 38.2% Fibonacci Level.[/B][/HEADING] EUR/USD traded lower near 1.0880 during the early European session on Thursday as the US Dollar makes efforts to retrace its recent losses. The 14-day Relative Strength Index (RSI) for the pair is positioned below the 50 mark, indicating a bearish momentum in the market. EUR/USD gathered bullish momentum and advanced to the 1.0930 area on Wednesday. With the US Dollar (USD) staging a rebound later in the day, the pair erased a large portion of its daily gains and returned below 1.0900. Investors await the European Central Bank’s (ECB) policy announcements and high-tier data releases from the US. [HEADING=2][B]Technical Overview With Chart :[/B][/HEADING] [IMG]https://f.bpcdn.co/optimized/4X/2/7/e/27ea785ad1d323554cccffbedb657a1afa09c029_2_690x231.png[/IMG] [HEADING=3][B]Moving Averages :[/B][/HEADING] [HEADING=3][B]Exponential :[/B][/HEADING] [LIST] [*][B]MA 10 :[/B] 1.09 | Negative Crossover | Bearish [*][B]MA 20 :[/B] 1.09 | Negative Crossover | Bearish [*][B]MA 50 :[/B] 1.09 | Negative Crossover | Bearish [/LIST] [HEADING=3][B]Simple :[/B][/HEADING] [LIST] [*][B]MA 10 :[/B] 1.09 | Negative Crossover | Bearish [*][B]MA 20 :[/B] 1.09 | Negative Crossover | Bearish [*][B]MA 50 :[/B] 1.09 | Negative Crossover | Bearish [/LIST] [B]RSI (Relative Strength Index):[/B] 46.69 | Buy Zone | Bullish [B]Stochastic Oscillator :[/B] 30.64 | Sell Zone | Neutral [HEADING=3][B]Resistance And Support Levels :[/B][/HEADING] [LIST] [*][B]R1 :[/B] 1.11 [B]R2 :[/B] 1.12 [*][B]S1 :[/B] 1.08 [B]S2 :[/B] 1.07 [/LIST] [HEADING=3][B]Overall Sentiment: Bearish Market Direction: Sell[/B][/HEADING] [B]Trade Suggestion:[/B] Limit Sell: 1.0913 | Take Profit: 1.0816 | Stop Loss: 1.0978 [HEADING=2]GBP/USD[/HEADING] [HEADING=3]READ THE FULL REPORT - CAPITAL STREET FX[/HEADING] [/QUOTE]
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