EURJPY

Market Review 19-04

Market Review 19-04

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EUR/JPY Technical Analysis

EUR/JPY fell 0.67% yesterday, the biggest single-day decline since March 22.

With the shape slide, the pair has close to 125.60, which is the 38.2% Fibonacci retracement of the rally from 123.65 to 126.81.

The 38.2% and 61.8% Fib retracements are widely considered as strong technical levels by traders.

A break below 125.60, therefore, could invite selling pressure, leading to a deeper drop to 124.78 (April 10 low).

https://www.fxstreet.com/news/eur-jpy-technical-analysis-nears-key-382-fib-support-with-biggest-single-day-drop-since-march-22-201904190406

 


 

 

EUR/JPY

Pivot-125.80

Short below 125.60 with target 124.78 & 123.65 in extension

Long above 126.20 with target 126.80

Gold Price Forecast: Eyes 8-month rising trendline after weakest weekly close since December

The yellow metal has ended this week at $1,275, the lowest weekly close since December, representing a 1.16 percent drop. Prices hit a low of $1,271 earlier this week.

The slide to eight-month rising trendline support, however, could be preceded by a minor bounce, as the RSI on both the 4-hour and hourly charts has diverged in favor of the bulls.

Prices, therefore, could revisit the former support-turned-resistance zone of $1,280-$1,285, before sliding to $1,260 as called by the weekly chart.

https://www.fxstreet.com/analysis/gold-price-forecast-eyes-8-month-rising-trendline-after-weakest-weekly-close-since-december-201904190504

 

 

 

Gold

Pivot-1275

Short below 1280 with target 1261 in extension

Long above 1280 with target 1285

 

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