Currencies and Gold Projections
EUR/GBP
The EUR/GBP has held a downward trend since finding the range high on August 12, 2019 at 0.93117. Following this trend the EUR/GBP found the range low at 0.83359. Leading into a slight hallway of sideways consolidation approaching the 2020 year. If market trends hold the EUR/GBP will move to retest the range low at 083359. If the EUR/GBP is able to move above established resistance level 0.84461 then the EUR/GBP will move to retest historical resistance level 0.85176. Shown in Chart A.
USD/JPY
With the USD/JPY holding a hallway of sideways consolidation since October 11, 2019 the USD/JPY moved to test above this range on January 10, 2020 until finally unable to hold volatility on January 20, 2020. If the market downward trend hold the USD/JPY will move to test historical resistance level 108.019 with slight resistance at 108.433. If the USD/JPY can move and maintain above resistance level 109.626 then the USD/JPY will move to test historically established resistance level 110.888. Shown in Chart B.
XAU/USD
*Charts are created with TradingView, our partner in charting.
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Written by Nenad Jordanoski, Futures Trader and Technical Analyst.
Email: nj@thetrade.academy
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