When To Buy EUR/USD, GBP/USD, XAU/USD
Mike Wolf | Jul 16, 2018 03:58PM ET
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.
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