Technical analysis for Gold for November 7, 2018

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Gold price challenged resistance at $1,236 yesterday, it got rejected and pulled back towards the 61.8% Fibonacci retracement support. In our last analysis, I mentioned that as long as price is below $1,240, the chances of another pull back towards the 61.8% Fibonacci retracement remain high. Only a close and break above $1,240 would cancel any chances for another pull back.

Forecast and technical analysis EURUSD on November 06, 2018.

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EURUSD: lateral movement around lb to continue

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On Monday the 5th of November, trading on the euro closed up. After falling to 1.1354, the price recovered to 1.1424. At the beginning of the European session, the pressure on the euro left investors feeling anxious over the fact that the conflict between the Italian government and the European Commission was not resolved.

Forecast and technical analysis EURUSD on November 05, 2018.

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EURUSD: price expected to increase from the lb balance line

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On Friday the 2nd of November, trading on the EURUSD closed down. After the publication of the US labor market data buyers lost all their daily gains. The number of new jobs exceeded expectations, and the value for the previous month has been revised upwards. The index of average hourly earnings (YoY) reached a 9-year high. Unemployment in the US remains at 3.7%.

Trading plan Forex for 05.11.2018

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On Monday, the Asian stock market shines red, but the currency market is calm. The pound is the strongest on the foreign exchange market. The UK media reports that Prime Minister May has a secret plan that will ensure an agreement on Brexit and will be approved by the parliament. GBP / USD initially jumped to 1.3050 after the report, but then it started to move back and is now at 1,3005.

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