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Daily Forex Technical Analysis By Capital Street Fx
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[QUOTE="capitalstreetfx06, post: 333725, member: 106330"] [HEADING=2]Weekly FX Analysis – GBP/USD Swings, EUR/USD Challenges, AUD/USD Rebounds, USD/JPY Gains.[/HEADING] [HEADING=2]Introduction[/HEADING] GBP/USD retreated below 1.2750, reversing gains after soft US December core PCE inflation data. Despite the setback, the pair eyes marginal weekly gains. Meanwhile, EUR/USD stabilized near 1.0850 post-US inflation data, maintaining positive territory. AUD/USD recovered to 0.6600 on improved market sentiment ahead of US core PCE data, while USD/JPY aimed for the psychological resistance at 148.00, supported by Tokyo CPI slowing below the BoJ’s 2.0% target. [HEADING=2]Markets In Focus Today – GBP/USD[/HEADING] [HEADING=2][B]GBP/USD Retreats Below 1.2750, And Looks To Post Small Weekly Gains.[/B][/HEADING] GBP/USD lost its traction and retreated below 1.2730 after rising above 1.2750 on soft US December core PCE inflation data in the early American session on Friday. Every week, GBP/USD remains on track to post marginal gains. GBP/USD lost its traction and dropped below 1.2700 in the early trading hours of the European session on Friday. Although the near-term technical outlook is yet to highlight a build-up of bearish momentum, buyers could remain discouraged unless the pair manages to reclaim 1.2700. Upbeat macroeconomic data releases from the US provided a boost to the US Dollar (USD) during the American session on Thursday. [HEADING=2][B]Technical Overview With Chart :[/B][/HEADING] [IMG]https://f.bpcdn.co/optimized/4X/9/d/d/9dd0e1434292a70bde7e8dba0ae871f082cfd16e_2_690x230.png[/IMG] [HEADING=3][B]Moving Averages :[/B][/HEADING] [HEADING=3][B]Exponential :[/B][/HEADING] [LIST] [*][B]MA 10 :[/B] 1.27 | Negative Crossover | Bearish [*][B]MA 20 :[/B] 1.27 | Negative Crossover | Bearish [*][B]MA 50 :[/B] 1.26 | Positive Crossover | Bullish [/LIST] [HEADING=3][B]Simple :[/B][/HEADING] [LIST] [*][B]MA 10 :[/B] 1.27 | Positive Crossover | Bullish [*][B]MA 20 :[/B] 1.27 | Negative Crossover | Bearish [*][B]MA 50 :[/B] 1.27 | Positive Crossover | Bullish [/LIST] [B]RSI (Relative Strength Index):[/B] 51.13 | Buy Zone | Bullish [B]Stochastic Oscillator :[/B] 59.44 | Buy Zone | Neutral [HEADING=3][B]Resistance And Support Levels :[/B][/HEADING] [LIST] [*][B]R1 :[/B] 1.28 [B]R2 :[/B] 1.29 [*][B]S1 :[/B] 1.26 [B]S2 :[/B] 1.25 [/LIST] [HEADING=3][B]Overall Sentiment[/B]: Bullish Market Direction*[I]: Buy*[/I][/HEADING] [B]Trade Suggestion[/B]: Limit Buy: 1.2622 | Take Profit : 1.2799 | Stop Loss : 1.2524 [HEADING=2]EUR/USD[/HEADING] [HEADING=3]READ THE FULL REPORT - CAPITAL STREET FX[/HEADING] [/QUOTE]
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