Centfx
Midday update for the GBPUSD
In order to maintain the validity of the correctional bearish trend for today, the GBPUSD pair maintains its stability below 1.2650, with 1.2540 serving as the next major target.
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Centfx
The EURGBP fluctuates within the bearish track
With the main stability within the bearish channel and the MA55 forming an additional barrier at 0.8600, the EURGBP pair has been involved in a number of mixed trades recently as it attempts to gather additional negative momentum to confirm the previously suggested negative scenario.
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centfx
Gold price needs more positive momentum
The gold price has stabilized above the EMA50, which supports the expectation that it will rise further in the coming sessions. We think there is still room to grow and hope that the price will eventually reach our primary target of 2065.70. We are just waiting for some encouraging signs to help the price move in that direction.
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centfx
Sugar price hits the new target
The sugar price made a significant upward move yesterday, breaking through our long-awaited target of 23.80. We recommend that the bullish bias continue in the coming sessions in order to break through this barrier and pave the way for further gains that could reach 24.85 and then 25.35.
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centfx
The USDCHF approaches the first target
The USDCHF pair continued to move higher yesterday, approaching our first anticipated target at 0.8740. We are now waiting for more rise to reach our second positive target, 0.8815.

Until it breaks and holds below 0.8635, the EMA50 will continue to support the suggested bullish wave.
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centfx
Gold price negotiates the moving average
The price of gold hovers around the EMA50, and it is evident that stochastic is clearly gathering positive momentum. This signals that the market is ready to spur the price back to the anticipated intraday bullish trend, which has 2065.70 as its next major target.
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centfx
Evening update for Gold
Stochastic negativity is causing the gold price to trade slightly negatively as it moves toward a possible test of the key support level of 2016.90. As long as the price stays above this level, our bullish outlook will hold true for the next period, reminding you that our primary target is still 2065.70.
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centfx
The USDCHF awaits more rise
The USDCHF pair made more profitable trades yesterday, bringing it within a few pip of the anticipated target at 0.8700. The inverted head and shoulders pattern's positive influence is still pushing the price higher than anticipated, with the next positive targets at 0.8740 and 0.8815.
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centfx
Sugar price within negative pattern
The sugar price ended yesterday with fresh negativity in an attempt to maintain stability below the 21.35 level. It was observed that recent trades are contained within a rising wedge pattern that is visible on the chart; therefore, a price break of 20.90.
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Gold Outlook: Caution advised amidst US dollar gains and increasing geopolitical tensions. Stay updated on US inflation and developments in the Middle East.

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Despite briefly reaching a multi-month low below $1.0500, EUR/USD demonstrated resilience and staged a notable recovery. The presence of a bullish pin bar on the weekly chart indicates a possible bullish retracement against the prevailing bearish trend. Caution is advised when trading against the trend. #forex #forextrading #forexsignals #forexmarket #currencytrading #forexanalysis #forexeducation #tradingstrategy #technicalanalysis #fundamentalanalysis #forexprofits #daytrading #scalping

A slight decline in the US Dollar Index could mark the beginning of a retracement, but the long-term trend remains bullish. Market risk appetite and the support level at 105.36 will be key factors to watch in the coming week.

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GBPJPY's bearish wave may strengthen if resistance line at 188.45 is surpassed, paving the way for psychological level at 190.00 and 191.50 barrier.

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USD/JPY Market Update: The US dollar's strength propels USD/JPY to retest previous intervention levels. Wall Street's recalibration towards higher-for-longer strengthens the likelihood of reaching 150.

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GBP/USD Technical Analysis: The British Pound faces support challenges as it hovers near 1.2180. Further downside pressure may intensify if the pair breaches the 1.2150 level, potentially leading to a test of 1.2050.

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While the bullish candlestick in USD/JPY signals positive momentum, the Bank of Japan's loose monetary policy and the yen's long-term downtrend offer further incentive for long trades. However, caution is necessary due to potential intervention and low volatility.

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Breaking the downward trendline could pave the way for a possible rise to $2000, while a breach of the 50-week EMA might lead to a test of the $1900 level in the gold market.

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Crude oil market experiences bullish momentum as inflation concerns and production challenges fuel sentiment. Watch for supply dynamics and US dollar impact.

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Bullish momentum slows in WTI Crude Oil futures as Fed rate cut expectations dwindle. OPEC's supply restrictions contribute to a bullish outlook.

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