Morning report EUR / USD, GBP / USD and Gold Pairs

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The morning report of the most important opportunities and expectations on the most important indicators, metals and major pairs such as EUR / USD – GBP / USD – USD / JPY.

We will talk in detail about our expectations for the day according to the wave analysis over a period of half an hour.

Gold Analysis:
  • On the chart we see the beginning of a five-wave reversal before reaching the top of 1535.
  • Stability of the 1528.32 high supports the decline to lower levels to break the 1480 low.

morning report

The dollar index USDINDX
  • If the dollar is below the 98 high on the chart, the index is moving downwards.
  • But when this summit is broken, the rally will continue.
  • Currently the dollar is on the rise to test the 98 high.
  • If the summit is repeated, we will see higher levels, unless there is a reversal before the summit.

morning report

 Australian dollar / US dollar AUDUSD
  • The stability of the recent bottom 0.6736 indicates the upward movement in the coming period on the pair.
  • A break of the 0.6736 low will take place to test the 0.6675 low.
  • A break below 0.6675 may continue to lower levels.

EUR / USD
  • We expect the pair to fall to test the 1.1026 low, and if the bottom breaks it will continue to lower levels.
  • It is expected to reach 1.07000.
  • However, the downside depends on the breach of the 1.1026 low in the coming period.
  • In case of reversal before breaking the bottom, a correction may occur on the EUR / USD.

GBP / USD
  • We expect the GBP to rise, as it is above 1.2072 low.
  • If it remains on top of this bottom, it is bullish.
  • However, if it reaches a lower level, it will see a drop to test the 1.2013 low.
  • A break below 1.2013 will continue falling to break the 1.1900 low.

USD / JPY

We expect a steady upward move to bottom of 105, and the top of this bottom indicates a rise to levels up to 108.

  • If the bottom of 105.63 is broken, a drop to test 105.05 will occur.
  • If there is a reversal before breaking the bottom, there will be a rally.
  • the bottom is hit, a drop to 104-103 levels may occur.
  • Currently we are climbing to higher levels up to 108.

know more:

Hassan Hadaoui
Hassan Hadaoui
Writer and Economist
BC XTB

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