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AUDUSD: Sets Up For Price Weakness

AUDUSD: With a flat close on a rejection candle seen on Tuesday, AUDUSD faces a move lower on price weakness. While its key resistance at 0.7974/80 zone cap upside moves, our bias remains to the downside. On the upside, resistance lies at the 0.7937 level. A cut through here will turn attention to the 0.8000 [&hellip

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AUD strength maintained

Australian Dollar:
Trading to an intraday low of 0.7836 when valued against its US Counterpart after China’s Flash HSBC Manufacturing PMI Index fell to an 11-month low, the move lower for the Australian dollar has proven to be short lived. Briefl…

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Greenback Consolidation Unfazed by CPI

The overnight deluge of global PMI data has financial markets emanating a moderately positive tone this morning, accepting a “glass half-full” mentality when assessing the economic landscape.  Flash purchasing manager data from the world’s second largest economy thoroughly disappointed participants with a lower than expected reading as the Chinese HSBC Flash Manufacturing reading printed at [&hellip

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GBPUSD 60 Minute chart analysis

GBPUSD 60 Minute chart analysis

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Hello traders good to be back with you. As you can see we are looking at the GBPUSD chart and my bias is bearish from the daily chart. I placed about 90 minutes before the London open a support and resistance on the chart, I do this on all my 8 pairs that I watch. There was data released and you can see the big candle with the large wick. Well my friends this is an education when it is time to sit on your hands and not enter a trade. I would like to enter after it breaks below the 1.4900 price level and close with a bearish candle. The main point is there is no price action and no entry so there is no trade, I would like to see NY session take this pair down and get to my price where I can enter. Talk Soon…… William

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EURUSD Daily Forecast: March 24

EURUSD Daily Forecast: March 24

EURUSD Forecast    
The EURUSD had a bullish momentum yesterday topped at 1.0970. The bias is bullish in nearest term testing 1.1040 key resistance located around the H4 EMA 200 as you can see on my H4 chart below. A clear break and daily close above that area could be an early signal of a major bullish reversal scenario. Immediate support is seen around 1.0880. A clear break below that area could lead price to neutral zone in nearest term testing 1.0800 area.

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