8DC FX Daily Analysis

D1 GBPUSD

GBPUSD remains supported by 1.3360, while this area holds there is a chance the GBP will attempt again to break 1.3440. If broken the target will be 1.3480/90 possibly 1.3520 in an extended move up.

However, a break down of 1.3360 support will see the GBP drop to 1.3280.

D1 EURUSD

EURUSD failed to break 1.1180 on Friday, keeping the pressure on the downside and support at 1.1140/30 a break of this support would target 1.1100/1.1080.

if the EUR can break above 1.1180, further corrective gains will be seen to target 1.1230 and possibly 1.1260.

D1 USDJPY

115.60 resistance held up the US Dollars advance. However, the corrective drop was limited to support at 115.20.

If the USD can regain some upside moment it will again target resistance at 115.60 and possibly 116.00.

Alternatively, if the support breaks at 115.20 the downside correction will continue to the next level of support at 114.80

D1 XAUUSD

After 3 days of losses Gold found some good support at 1780/1782 while this area holds, there could be further attempts to break 1792 resistance which if successful will target 1798/1800.

If the support at 1780 is clearly broken the next down side target area will be 1770/1768.

Trade Forex, Crypto, Precious and Industrial Metals and much more at http://www.8dcglobal.com

Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

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