This article provides an in-depth analysis of the outlook for EUR/USD, USD/JPY, GBP/USD and gold prices, exploring various potential scenarios that may manifest over the coming days and weeks.
Conversely, if buyers regain control and drive prices higher in the upcoming sessions, resistance is anticipated near 1.0890, aligned with the 50-day simple moving average. A sustained advance beyond this threshold could strengthen upward impetus, paving the way for an ascent towards 1.0950.USD/JPY made modest gains on Wednesday, flirting with overhead resistance at 150.85.
On the flip side, if bulls mount a comeback and propel cable upwards, the 50-day SMA will be the first obstacle on the road to recovery. Above this technical ceiling, all eyes will be on trendline resistance located in the vicinity of 1.2720, followed by 1.2830.
Alternatively, if sentiment shifts back in favor of sellers and XAU/USD takes a turn to the downside, the first key floor to watch emerges at $2,005, near the 100-day simple moving average. Should selling pressure continue, traders may eye $1,990, followed by $1,995 as potential support levels.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
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