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After a minor pullback from the breached target level of 32.280, the price is once again attempting to break above it, this time seemingly with confirmation.
The Marlin oscillator has not yet indicated leading growth, which creates the conditions for a gradual price increase. A breakout above 32.280 would open the first upward target at 32.905. Further movement may test the embedded price channel line in the 33.370–33.565 range.
On the four-hour chart, the price is undergoing broad consolidation below 32.280, while remaining above the MACD line. This line supports the price, encouraging a breakout above the 32.280 resistance level.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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On the 4-hour chart, the USD/CAD commodity currency pair can be seen moving below the EMA (100) and the appearance of a Bearish 123 pattern and the position
With the Stochastic Oscillator condition heading towards the Oversold level (20) on the 4-hour chart of the AUD/JPY cross currency pair, in the near future AUD/JPY has the potential
Early in the American session, gold is trading around 3,220, showing signs of exhaustion. A further technical correction toward the 21SMA is likely in the coming hours
Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful
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