ACFX DAILY TECHNICAL REPORT – LONDON OPEN 15.12.2014
EURUSD
The intraday technical outlook
EURUSD has over the past three sessions traded within a 1.2370 to 1.2495 range.
A significant brake of this range will potentially dictate the medium term trading direction.
EURUSD is trading in an intraday 1 hour uptrend with the line of control at the 1.2370 level.
Current upside resistance can be found at 1.2495 and 1.2530.
Alternatively downside support comes in at 1.2450 and 1.2420
GBPUSD
The intraday technical outlook
GBPUSD has been trading within a 1.5650 to 1.5750 trading range over the past three sessions.
A significant brake of this range will potentially dictate the medium term trading direction.
GBPUSD is trading in an intraday 1 hour intraday uptrend with the line of control at the 1.5650 level.
The intraday upside resistance comes in at 1.5750 and 1.5790.
Alternative support is at 1.5725 and 1.5650 levels.
USDJPY
The intraday technical outlook
USDJPY is trading within a 118.00 to 119.00 trading range.
A significant brake of this range will potentially dictate the medium term trading direction.
USDJPY is trading in an intraday 1 hour intraday downtrend with the line of control at the 119.05 level
Downside support is at 118.25 and 117.50.
Alternatively resistance levels are at 119.05 and 119.55.
USDCHF
The intraday technical outlook
Overnight USDCHF tested the 0.9625 support level.
A significant breach of this level would confirm that the intraday downtrend is intact.
USDCHF is trading in an intraday 1 hour intraday downtrend with the line of control at the 0.9710 level
The downside support is at 0.9625 and 0.9610 levels.
Alternative current upside resistance is at the 0.9690 and 0.9710 levels.
AUDUSD
The intraday technical outlook
Overnight AUDUSD tested but could not sustain a move under the 0.8200 support level.
A significant breach of this level would confirm that the intraday downtrend is intact.
AUDUSD is trading in an intraday 1 hour intraday downtrend with the line of control at the 0.8300 level.
The current downside support is at the 0.8200 and 0.8070.
Alternatively resistance can be found at 0.8300 and 0.8350.
GOLD
The intraday technical outlook
XAUUSD this morning tested and bounced off the 1215.00 support level.
A significant breech of this level would change the 1 hour from up to down.
Gold is trading in an intraday 1 hour intraday uptrend with the line of control at the 1215.00 level.
Current upside resistance comes in at 1221.00 and 1225.60.
Alternatively support comes in at 1215.00.00 and 1204.75.
OIL
The intraday technical outlook
Oil overnight continued to trade lower.
However the downward slide was held at the 56.50 support level.
Oil is trading in an intraday 1 hour intraday downtrend with the line of control at the 59.25 level.
Current support comes in at 56.50 and 53.00.
Alternatively upside resistance comes in at 59.25 and 60.45.
MORE ON ACFXblog.com