MARKET BRIEFING – LONDON OPEN 30.03.2015
EURUSD
The intraday technical outlook
EURUSD broke down from upward channel and proceeded to trade to the 1.0800 level.
A successful retest of the 1.0800 level would confirm the current down trend.
From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.1050 level.
GBPUSD
The intraday technical outlook
This morning GBPUSD has opened negatively with the price action testing the 1.4800 prior monthly swing level.
I am this morning monitoring the price action with key range / break out levels being 1.4800 / 1.5000.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.4800 level.
USDJPY
The intraday technical outlook
USDJPY has experienced a good rally since Thursday.
This morning USDJPY has continued with the positive theme by trading above the top of its down channel.
From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.00 level.
USDCHF
The intraday technical outlook
USDCHF has experienced a good rally since Thursday.
This morning USDCHF has continued with the positive theme by trading above the top of its down channel.
The move above the 0.9600 level has technical changed the trend from down to up.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9500 level.
AUDUSD
The intraday technical outlook
The breach the isolated low of 0.7850 level has changed the 1 hour trend for AUDUSD from up to down.
This has been followed by further breaches of the 0.7800 support level and the channel bottom.
The move lower has come off a bounce from the top of a long dated down channel.
From a technical perspective the pair is trading in an intraday 1 hour down trend with the line of control at the 0.7900 level.
GOLD
The intraday technical outlook
Gold has broken the bottom of its up channel and is trading under the 1201.00 support level.
The breach of this level has technically changed the trend from up to down.
From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1206.00 level.
OIL
The intraday technical outlook
Oil on Friday was not able to bounce off the bottom of its up channel.
What followed on Thursday was a strong correction that has pushed Oil in the direction of the 47.00 support area.
From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 47.00 level.
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