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A Strong Surge in NZDUSD

Yesterday, the NZDUSD pair experienced a significant upward rally, successfully surpassing our anticipated target of 0.6247 and closing the daily candlestick above this level. This confirmed the resumption of the primary bullish trend and put an end to the bearish correction that had been dominating recent trades. As a result, the pair is now expected to head towards the next major target of 0.6470.


In light of these developments, we maintain our bullish outlook for the upcoming period, with support from the SMA50. However, it is important to note that a break below 0.6290 could halt the current upward momentum and trigger a renewed decline in the price.

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EURJPY Reaches Target Level

Yesterday, the EURJPY currency pair successfully reached the 153.4 level, providing additional support against negative pressure and initiating a corrective bullish rebound towards 154.45. This rebound helped to recover some of the losses that were recently incurred.


It is important to note that the continuous fluctuation of the stochastic near the 20 level, combined with the stability of the additional barrier at 155.50, allows us to maintain a negative outlook. We anticipate that this will provide the necessary negative momentum to facilitate a break below the 153.40 level and reach the next negative target of 151.2 directly.

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USDCAD Technical Analysis

The USDCAD pair is exhibiting a bearish bias, with the potential to reach the previous low of around 1.3119 on the daily chart. This bearish scenario is likely to persist as long as the pair continues to trade below the resistance level of 1.3216. The price is expected to continue declining, potentially halting near the previously mentioned support level.


In light of these observations, it is recommended to closely monitor market behavior around the 1.3119 level for signs of a retreat or breakout. This will provide valuable insights into the future direction of the pair and inform trading decisions accordingly.

Stay with us for more updates on the USDCAD pair. We will continue to provide timely and accurate information on the latest market trends and developments, helping you make informed trading decisions.

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GBPUSD: Bullish Rebound from Key Support
The GBPUSD currency pair recently underwent a test of the critical support base at 1.3090, from which it experienced a bullish rebound. In order to maintain the validity of the bullish trend scenario for the current day, it is necessary for the price to consolidate above this level. A breach of this support base would represent a negative factor, potentially causing the price to undergo an intraday bearish correction before resuming its upward direction. It is important to note that the next targets for the anticipated bullish trend begin at 1.3200 and extend to 1.3295.


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USDCHF keeps achieving the negative targets
The USDCHF currency pair has been steadily declining, recently surpassing our expected target of 0.8600. This confirms that the decline is likely to continue in both the short and medium term. Our next target for the pair is 0.8520, which we expect to be the next negative station for the price. If the price falls below this level, it could drop even further to 0.8450, which is our next main target.
However, there is a possibility that the price could rise above 0.8690. If this happens, it could cause a temporary increase in the value of the pair before it starts declining again. So, while the downward trend is still expected to continue, there is a chance that it could be temporarily interrupted if the price rises above 0.8690 and stays there.
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The US Federal Court’s ruling that XRP tokens are not securities has sparked a surge in XRP’s value, with a 70% increase since the decision. This momentum has also impacted Coinbase, a US-listed exchange currently facing a lawsuit from the SEC for offering unregistered securities, among other charges. The XRP precedent could potentially aid Coinbase in its legal battle with the regulator, and the same may apply to Binance. Despite not being listed, exposure to Binance is possible through its cryptocurrency, Binancecoin (BNB). The question remains whether the rise in XRP will continue and if it will trigger a rally in Coinbase, Binancecoin, and other cryptocurrencies. Many US cryptocurrency exchanges have already indicated their intention to allow XRP trading for US customers once again. The impact on Coinbase and Binancecoin appears modest, but it is important to note that XRP was trading at a low value prior to the decision.


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