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Market Analysis by Bulls Capital Markets

EUR/USD: EUR/USD has continued to fall away as it has throughout this week, to close at $1.0874 which was well below the previous support at $1.0915.

GBP/USD: Fibonacci retracements can act as areas of consolidation and this is what we are seeing now, whilst there is also the resistance from the old support around $1.5670 also preventing the bulls from running higher near term.

USD/JPY: The rebound has been impressive but looking at the intraday hourly chart, it becomes clear that the bulls have a real fight on their hands. The slight pullback in the Asian session is posing a few questions. The hourly RSI has just dipped to a 3 day low, the hourly MACD is solid if unspectacular.

XAU/USD: The outlook remains bearish with momentum indicators negatively configured across the board and any intraday rallies continuing to be sold into.

Friday, 17 Jul, 2015 / 12:24

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Source : https://www.bullscapitalmarkets.com/forex-daily-newsletter/free-forex-signals.php

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