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When To Buy EUR/USD, GBP/USD, XAU/USD

Published 07/16/2018, 03:58 PM
Updated 07/09/2023, 06:32 AM

We see a corrective price action on DXY. It is likely to test 94.10 – 94.00 as seen on the chart. This is not a trend reversal as long as the DXY does not break below the trend line.

Midterm trend reversal may happen with the breakout of the trend line.

All bullish actions on EUR/USD and GBP/USD might be considered as corrections as long as the DXY holds above 94.00.

EUR/USD: 1.17800 – 1.18200
GBP/USD: 1.33800 – 1.34270
XAU/USD: 1.252

If the current decline continues on DXY, the above levels are likely to be tested and can be used as selling opportunities depending on the DXY at 94.00.


This analysis prepared by the global analysts of Chartreaderpro.com and published on Investing.com. Commercial distribution is strictly prohibited.
Dollar (DXY) H4 Chart

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