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The long term bias is still bullish on XAU/USD

Daily Vision

The XAUUSD was indecisive last week formed a Doji on weekly chart. The bias is neutral in nearest term but as long as stays above 1 695.23.
I still prefer a bullish intraday scenario at this phase targeting 1 685.23 region.
Immediate resistance is seen around 1 254.23. A clear break and daily close above that area could trigger further bullish pressure testing 1 654.23 region. Immediate support is seen around 1 232.23.
A clear break below that area could trigger further bearish pre…
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USD/CHF have been seeing a strong bearish market

Daily Vision

The USDCHF attempted to push lower yesterday bottomed at 0.9458 but closed higher at 0.9456 in another high volatile market.
We have been seeing a strong bearish market for the last two weeks where the pair slump more than 1000 pips without significant correction and the next potential target is seen around 0.9147 (weekly EMA 200).
The bias is bearish in nearest term. Immediate resistance is seen around 0.9914 . A clear break above that area could lead price to neutral zone in near…
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GBP/USD forming a strong bearish harmonic pattern

Daily Vision
The GBP/USD trend is bearish in daily time frame. Vital resistance is present at 1.3689 price level. In past few trading days, price has completed possible bearish impulse Wave-A and moved up.
Based on Elliott wave analysis, I now expect price action to print bullish Wave B. The trend is bearish and a good idea is to look for a sell trading chance to join the down trend after the end of bullish Wave B leg in current time frame or smaller time frame.
However, if bullish candlestick c…
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Long term bias is still short on USD/JPY

Daily Vision

The USDJPY was indecisive last week formed a Doji on weekly chart. The bias is neutral in nearest term but as long as stays above 114.70. I still prefer a bullish intraday scenario at this phase targeting 114.10 region.
Immediate resistance is seen around 114.78. A clear break and daily close above that area could trigger further bullish pressure testing 113.96 region. Immediate support is seen around 113.30 .
A clear break below that area could trigger further bearish pressure whi…
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EUR/USD facing some bullish pressure

Daily Vision
The EUR/USD attempted to push lower yesterday bottomed at 0.0855 but closed higher at 0.0225 in another high volatile market. We have been seeing a strong bearish market for the last two weeks where the pair slump more than 1000 pips without significant correction and the next potential target is seen around 0.0835 (weekly EMA 200). The bias is bearish in nearest term. Immediate resistance is seen around 0.0899 . A clear break above that area could lead price to neutral zone in near…
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EURAUD facing a strong trend line resistance

Daily analysis
EURAUD opened the week at 1.5187 and touched a high of 1.5190. The pair then reversed directions and dropped to 1.5028, as support held firm at 1.5026. The pair closed the week at 1.5031. And the price of 1.5000 has been significant in the recent history of EURAUD, and with a mid-line of a down-ward sloping channel offering an additional impetus for support, top-side reversal setups became attractive as a 1-to-4 risk-reward ratio was available using that 1.5000 level for risk wit…
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CHFJPY forming a bearish harmonic pattern

Weekly analysis
weekly RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance lines at the 118.47 level with a breach pushing the pair further towards the 118.75 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 118.65 level. All in all, the pair remains biased to the downside in the short term on correction.
Daily analysis

CHFJPY is at an interesting level as we’re currently at the top end of what to …
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Long term bias is still short on CADJPY

Daily analysis
CADJPY opened the week at 86.76 and touched a low of 86.45. It was all uphill for the pair, which hit a high of 86.25, putting strong pressure on resistance at 86.45, CADJPY closed the week at 86.35. With the pair posting sharp gains last week, we begin with a top level at the round number of 86.25. The round number of 86.74 was a swing low and remains of importance. 86.65 was the high and a key resistance line. 86.85, which was a swing low, has switched to resistance. It is a wea…
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CADCHF Loses upside momentum

Daily analysis
CADCHF printed a rejection to halt its upside offensive and close lower the past week. This price action has created downside risk as we enter a new week. On the downside, support comes in at the 0.7385 level. A turn below here will open the door for more weakness targeting the 0.7345 level and followed by the 0.7365 level. A cut through here will bring additional weakness towards the 0.7369 level.
Weekly analysis

CADCHF opened the week at 0.7314 and touched a high of 0.7387. The …
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AUDUSD facing a strong trend line resistance

Daily analysis
AUDUSD opened the week at 0.7085 and touched a high of 0.7098. The pair then reversed directions and dropped to 0.7078, as support held firm at 0.7012. The pair closed the week at 0.7045. And the price of 0.7065 has been significant in the recent history of AUDUSD, and with a mid-line of a down-ward sloping channel offering an additional impetus for support, top-side reversal setups became attractive as a 1-to-4 risk-reward ratio was available using that 0.7115 level for risk with…
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