MARKET BRIEFING – LONDON OPEN 28.04.2015
EURUSD
The intraday technical outlook
Monday EURUSD traded higher following positive news from the Greek Government.
This morning I am monitoring the price action for a test of the 1.0900 resistance level.
Alternatively a failure to sustain a move above this level could see EURUSD trade back down to the 1.0800 support level.
From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.0820 level.
GBPUSD
The intraday technical outlook
Monday GBPUSD continued to trade higher as the price action tested the 1.5250 level.
Today’s GDP number should add to the market volatility.
I am this morning I am monitoring the price action for a test of the 1.5250 resistance level.
Alternatively a failure to trade higher could see GBPUSD trade back down to the 1.5100 support level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5100 level
USDJPY
The intraday technical outlook
Monday USDJPY was range bound as it traded between the 118.80 and 119.40 levels.
This morning I am monitoring the price action for a retest of the 118.80 support level.
Alternatively a failure to trade lower could see USDJPY trade back up to the 119.40 resistance level.
From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 119.40 level.
USDCHF
The intraday technical outlook
Monday USDCHF was range bound as it traded between the 0.9500 and 0.9600 levels.
This morning I am monitoring the price action for a retest of the 0.9500 support level.
Alternatively a failure to breach this level could see USDCHF trade back up to the 0.9600 resistance level.
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
Monday AUDUSD traded higher and this positive price action has followed through into today’s trade.
This morning I am monitoring the price action for a test of the 0.7900 resistance level.
Alternatively a failure to breach this level could see AUDUSD trade back down to the 0.7800 support level.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7800 level
GOLD
The intraday technical outlook
Gold yesterday afternoon was bid higher and the price action experienced a large spike.
This morning I am monitoring the price action for a test of the 1209.00 resistance level.
Alternatively a failure to trade higher could see Gold retest the 1198.05 level.
From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1175.35 level.
OIL
The intraday technical outlook
Oil continues to trade in a 55.50 to 58.75 range.
I am this morning monitoring the price action for a test of the 55.50 support level.
Alternatively a failure to sustain lower prices could see Oil test the 57.85 resistance level.
From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 57.85 level
MORE ON ACFXblog.com