Currencies and Gold Projections
Week of February 3, 2020 EUR/GBP - USD/JPY - XAU/USD.
EUR/GBP
With the EUR/GBP following established market projections it will move to retest a previous slight resistance level at 0.83359. With volatility leading into the first week of February of 2020 and final implementations of BREXIT the EUR/GBP will find itself in a hallway of sideways consolidation. If the EUR/GBP can maintain above slight resistance level 0.83359 then the EUR/GBP will move to retest and pullback to established resistance level 0.84461. Shown in Chart A.
USD/JPY
The USD/JPY finds itself at the bottom range in a hallway of sideways consolidation established starting October 31, 2019. If volatility and market trends hold the USD/JPY will move to test established resistance level 108.019. If the USD/JPY can hold above resistance level 108.433 then the USD/JPY will pullback to retest slight resistance level 108.862 before proceeding to resistance level 109.623 Shown in Chart B.
XAU/USD
Shown in Chart C.
*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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