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MarketBreakdown | EURUSD, GBPUSD, USDJPY, AUDUSD

Here are the updates & outlook for multiple instruments in my watch list.

1️⃣ #EURUSD daily time frame 🇪🇺🇺🇸

For the last 2 weeks, EURUSD shows a strong bearish momentum.
The price managed to break and close below a key daily support cluster.

A strong bearish reaction that followed after its retest confirms a strong
selling pressure.

I think that the pair has a potential to drop lower this week.

2️⃣ #GBPUSD daily time frame 🇬🇧🇺🇸

In comparison to EURUSD, GBPUSD looks very stable.
The pair is consolidating within quite a wide range on a daily.
For now, probabilities are high that sideways movement will continue.
Consider trading the upper and lower boundary of the underlined channel.

Alternatively, a breakout of one of the underlined structures will give you a strong
bullish/breaish signal.

3️⃣ #USDJPY daily time frame 🇺🇸🇯🇵

Looks like the market is returning to a mid-term bearish trend.
The price is currently breaking a support line of a bearish flag pattern.

A daily candle close below its support will provide a strong bearish confirmation.

4️⃣ #AUDUSD daily time frame 🇦🇺🇺🇸

I see a completed head & shoulders pattern on a daily.
The price is currently breaking its neckline.

A daily candle close below that will provide a strong bearish confirmation
and suggest a highly probable bearish continuation.

Do you agree with my market breakdown?

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