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MarketBreakdown | SILVER (XAGUSD), GBPJPY, AUDNZD, NZDJPY



Hey traders,

here is a brief technical outlook of 4 peculiar instruments to watch this week.


1️⃣ Silver ( XAGUSD ) - Monthly time frame


The price is approaching a key monthly structure.

21.6 - 22.1 is a zone from where I expect a pullback.

Look for a confirmation on lower time frames to buy wisely.


2️⃣ GBPJPY - Weekly time frame


Though during the summertime the pair was trading in a bearish trend ,

ahead is a key weekly rising trend line .


Approaching that, a pullback will be expected.


Alternatively, its bearish breakout will lead to a strong bearish rally.


3️⃣ AUDNZD - Daily time frame


The pair keeps falling.

Trading within a falling parallel channel the price is close to its support.

Being quite oversold, chances are high to see a pullback from that.


For trend-following opportunities wait for a test of the channel's resistance,

for now, it is the closest point to sell from.


4️⃣ NZDJPY - Weekly time frame


The pair has recently retested a major broken weekly trend line .

Showing a positive, bearish reaction from that the outlook for the market is very bearish ,

most likely the fall will continue.

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