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TD Markets Daily Market Commentary

Authored by TD Markets
13.01.2023
Technical Analysis
0
2 min

Commentary:

CADCHF.

(UPDATE) - CADCHF has rallied +80 pips to the upside according to the last commentary on the pair. The bias and the outlook remains the same for traders; the overall trend is bearish and since the market created a lower low, traders anticipate a correction to form and thus will be looking for short-term trading opportunities to the upside until the market reaches the resistance zone.

USDJPY.

(UPDATE) -  USDJPY has successfully rejected the minor resistance zone and has dropped +400 pips. Traders are already in the market and have targets around the -2.72 fib level. More trading opportunities to the downside will develop if the market forms a bearish continuation pattern.

GOLD.

(UPDATE) - GOLD has continued to rally +400 pips to the upside and has hit the target around 1910.00. Traders will now manage their trades and wait for further confirmation to the upside to provide trading opportunities.

Authored by TD Markets
13.01.2023
Technical Analysis
0
2 min
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