Currencies and Gold Projections

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 

Continuing its inverse upward market trend the XAU/USD is moving to establish higher highs for the year 2020. If the XAU/USD can maintain volatility the XAU/USD will find a range high for February. Leading into an inevitable pullback the XAU/USD will move to retest slight resistance level 1561.61 before approaching resistance level 1550.93. 
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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