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Today’s Market Watch: Stay Ahead of the Trends

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Hi traders!

The charts below are some of the charts I’m watching for breaks of key levels. They may NOT happen, but if they do, they move on to a watchlist for potential trading opportunities.

First up- Gold, 4hr. Recently, Silver has had a great run, but Gold is at historic highs. Usually, this implies that it will fail here, but let’s see how it copes today.

Next, we have one of the several bullish-leaning JPY crosses, CADJPY. I’m looking for price to find support at either one of the two levels below it. Will it resume the uptrend after that?

Then we have GBPUSD, 4HR. There could be a break above the blue line, giving the GBP a boost of the USD for the remainder of the week.

And finally, EURUSD, 4HR. Currently looking bullish, but it has a strong level to contend with up ahead. If it comfortably slices up through this, traders will begin hunting for sensible buy entries.

Which markets, which timeframes are you watching? Let me know!

Happy Trading!

Adam Harris

FXGlobe Ambassador Adam Harris is based in London, UK. He’s been trading professionally since 2013 and his specialties are technical and trend-based trading.

Trading Advice Disclaimer:
Our Ambassador’s Daily Picks are not trading advice. These are informational articles covering the events which happened in the market already & scheduled events which are scheduled to happen in the Economic & Earnings Calendar.

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Trading leveraged products such as Forex and CFDs carries a high level of risk thus may not be appropriate and/or suitable for all investors. The investment value can both increase and/or decrease and the investors may lose all their invested capital. The content of this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Under no circumstances shall the Company or affiliated Companies have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to leveraged products.

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