Wednesday, October 23, 2019
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Technical Analysis – GBP/USD violates March downtrend

GBP/USD violates March downtrend; cautiously bullish in the short-term. GBP/USD traders turned indecisive following last week’s impressive rally that drove the price slightly above the 1.2700 level and just below the 200-day simple moving average (SMA). The short-term momentum indicators suggest a cautiously bullish bias as the RSI and the Stochastics maintain an upward

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Technical Analysis – Gold consolidates, capped by SMAs

Gold buyers are attempting to tackle the converging simple moving averages (SMAs) in the sideways market. The 20-period SMA, from a flattened state, deflected off the horizontal 100-period SMA completing a bearish crossover of the 50-period SMA, suggesting that the commodity is leaning more towards a short-term negative outlook. The short-term oscillators

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Technical Analysis – EUR/USD remains in a downtrend despite rally

EUR/USD rose as high as 1.1062 following the breach of the four-month-old downward-sloping line but the technical indicators signaled overbought conditions, with the price correcting slightly lower and towards the key 1.1025 level. The short-term bias is looking bullish to neutral in the four-hour chart as the RSI is heading towards its 50

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