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Midweek technical look – EUR/JPY, USD/CHF, Gold [Video] – FXStreet

Analyzing Midweek Market Trends: EUR/JPY, USD/CHF, Gold [Video]

In this midweek technical analysis, we will be taking a closer look at the trends and potential trading opportunities in the EUR/JPY, USD/CHF, and Gold markets. By examining key technical indicators and chart patterns, we can gain valuable insights into the current market conditions and make informed trading decisions.

EUR/JPY:
The EUR/JPY pair has been trading in a sideways range for the past few days, with key support at 130.50 and resistance at 132.00. The moving averages are converging, indicating a possible breakout in either direction. Traders should watch for a clear break above or below the range to determine the next trend direction.

USD/CHF:
The USD/CHF pair has been in a downtrend, with the price trading below the 50-day moving average. The pair is currently testing a key support level at 0.9150, and a break below this level could signal further downside potential. Traders should monitor the price action closely for any signs of a reversal or continuation of the downtrend.

Gold:
Gold prices have been consolidating in a tight range between $1,800 and $1,820, with the 50-day moving average acting as a key support level. Traders should watch for a breakout above the resistance level at $1,820 or a breakdown below the support level at $1,800 to determine the next directional bias. The RSI indicator is currently neutral, indicating a lack of strong momentum in either direction.

Overall, traders should remain cautious and monitor the price action closely for potential trading opportunities in the EUR/JPY, USD/CHF, and Gold markets. By staying informed and utilizing technical analysis tools, traders can make more informed decisions and maximize their trading profits. Watch the accompanying video for a more in-depth analysis of these markets.

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