Currencies and Gold Projections

Week of 10th of Feb. EURGBP, USDJPY, XAUUSD.


The EUR/GBP is currently trapped in a hallway of sideways consolidation awaiting a market correction in trend. If current trends hold the EUR/GBP will move to test resistance level 0.84461 before moving to 0.83359. Shown in Chart A. 


Following a pullback to retest the year high set in the third week of January 2020 the USD/JPY could not reach resistance level and year high 110.187. If the USD/JPY can not maintain above resistance level 109.623 then the USD/JPY will move and continue to test resistance level 108.862. Shown in Chart B. 


The XAU/USD is setting roots for futures resistance at 1574.58. If volatility can hold the XAU/USD will move to retest the year high and find new range and year highs. If volatility does not hold market trends the XAU/USD will move to retest resistance level 1561.61 before moving to 1550.93. Shown in Chart C.

*Charts are created with
TradingView, our partner in charting.
Written by Nenad Jordanoski, Futures Trader and Technical Analyst.
Risk Warning: Trading on the Financial Markets, Stock Exchange and all its asset derivatives is highly speculative and may not be suitable for all investors. Only invest with money you can afford to lose and ensure that you fully understand the risks involved. Please remember that past performance may not be indicative of future results. Supplied information is not an advice .
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