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From what is seen on the 4-hour chart, the AUD/JPY cross currency pair appears to have a Divergence between the AUD/JPY price movement and the Stochastic Oscillator indicator, so based on this, in the near future AUD/JPY has the potential to weaken to the level of 93.84. If this level is successfully broken and closes below it, then AUD/JPY has the potential to continue its weakening back to the level of 93,34 as its main target, if momentum and volatility support it, then 93.02 will be the next target to be aimed for, but if on its way to these targets, AUD/JPY suddenly strengthens again and closes above the level of 94.73, then all the weakening scenarios that have been described previously will be invalid and automatically canceled by themselves.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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Early in the American session, the XAU/USD is trading around 3,370, below the 21 SMA under bearish pressure. We believe a technical rebound could occur in the coming hours
The outlook remains negative for the euro, as rising oil prices could pressure the European currency. In turn, we could expect EUR/USD to reach the 6/8 Murray level at 1.1230
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With the movement of the EUR/GBP price on its 4-hour chart moving above the WMA (21) which has a slope that is going upwards and the appearance of convergence between
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