MARKET BRIEFING – LONDON OPEN 15.05.2015
EURUSD
The intraday technical outlook
Thursday EURUSD traded within a tight range.
This morning I am monitoring the price action for a test of the 1.1450 level.
Alternatively a failure to sustain a move higher prices could see EURUSD re-test the 1.1340 level.
From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1340 level.
GBPUSD
The intraday technical outlook
Thursday GBPUSD continues to trade higher.
This morning I am monitoring the price action for a test of the 1.5800 level which coincides with a prior area of strong resistance.
Alternatively a failure to trade higher could see GBPUSD re-test the 1.5650 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5650 level.
USDJPY
The intraday technical outlook
Thursday USDJPY spiked higher and is now testing the upper limit of its down channel.
This morning I am monitoring the price action for a bounce lower off the 119.40 level and the channel top.
Alternatively a failure to trade lower could see USDJPY trade back up to the 119.75 level.
From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.30 level.
USDCHF
The intraday technical outlook
Thursday USDCHF traded lower following its failure to test its channel top.
This morning I am monitoring the price action for a test of the 0.9110 level.
Alternatively a failure to trade lower could see USDCHF trade back up to the 0.9180 level.
From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9295 level.
AUDUSD
The intraday technical outlook
Thursday AUDUSD corrected lower.
This morning I am monitoring the price action for a test of the 0.8075 level.
Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.8000 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7950 level
GOLD
The intraday technical outlook
Thursday Gold closed marginally up on the day.
This morning I am monitoring the price action for a test of the 1222.00 level.
Alternatively a failure to trade higher could see Gold re-test the 1212.40 level.
From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1212.40 level.
OIL
The intraday technical outlook
Thursday Oil closed slightly lower on the day.
This morning monitoring the price action for a test off the 59.00 area.
Alternatively a failure to trade lower could see Oil re-test the 60.00 level.
From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 60.80 level.
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