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GOLD: Vulnerable, Takes Back Gains

GOLD: Although GOLD remains biased to the downside short term, it will have to break and hold below the 1178.39/the 1,174.85 zone to convince the market of further weakness. As long as the mentioned supports hold, we think the commodity should recover higher. Support comes in at the 1,170.00 level where a break will ai

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EURUSD: Bullish With Caution

EURUSD: Although EUR may be biased to the upside on the weekly chart, its price action on the daily chart is suggestive of a move lower on correction in the new week. This development leaves risk lower in the new week. Resistance is seen at the 1.1289 level with a cut through here opening the door for more downside tow

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USDCHF: Sells Off On Loss Of Upside Momentum

USDCHF: Having USDCHF declined strongly the past week, it could extend that weakness in the new week. On the downside, support comes in at the 0.9250 level. A turn below here will open the door for more weakness to occur towards the 0.9200 level and then the 0.9150 level. A cut through here will open the door for addit

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GBPJPY: Loses Upside Momentum, Weakens

GBPJPY: Having capped at the 184.45 level to tumble lower during Friday trading session, GBPJPY faces further pullback risk. On the downside, support comes in at the 182.00 level where a violation will aim at the 181.00 level. A break below here will target the 180.00 level followed by the 179.00 level. Further down, s

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GBPUSD: Weakens On Correction

GBPUSD: GBP weakened on Thursday leaving risk of a move further lower on the cards. On the upside, resistance resides at the 1.5400 level with a break aiming at the 1.5450 level. A violation will aim at the 1.5500 level and possibly higher towards the 1.5550 level. On the downside, support lies at the 1.5300 level wher

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USDCAD: Halts Weakness, Looks To Correct Higher.

USDCAD: Having USDCAD halted its weakness with a rejection candle on Wednesday, it now looks to recover higher. On the downside, support lies at the 1.1943 level where a violation will be followed by followed by the 1.1900 level. Further down, support resides at the 1.1850 level and then the 1.1800 level. On the upside

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AUDUSD: Vulnerable Prints Rejection Candle

AUDUSD: With the pair failing to sustain its intra day gains to close flat on Wednesday, further downside pressure is likely. On the downside, support resides at the 0.7950 level where a breach will aim at the 0.7900 level. Below that level will set the stage for a run at the 0.7850 level with a cut through here target

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The Path To Becoming A Master Trader

A question I hear and a situation I face myself on occasion is “I had a setup to enter the market and I found it very difficult to pull the trigger, why?” I would like to address this issue and then write about simplicity in trading on your way to becoming a Master Trader. The majority of trading success co

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