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London Open Intra Day Analysis 29.07.2014

The London open




EURUSD



Time frame: 1 hour
Trend: Down
Outlook: The price action is trading lower and away from the negatively layered moving averages
Probable scenario: Short beneath 1.3420
Alternate scenario: Long above 1.3444
Intraday levels: Open: 1.3438, R1 1.3458, R2 1.3479, S1 1.3417, S2 1.3396



GBPUSD



Time frame: 1 hour
Trend: Down
Outlook: The price action is trading lower and away from the negatively layered moving averages
Probable scenario: Short beneath 1.6966
Alternate scenario: Long above 1.6989
Intraday levels: Open: 1.6982, R1 1.7011, R2 1.7040, S1 1.6953, S2 1.6924



USDJPY



Time frame: 1 hour
Trend: Up
Outlook: The price action is trading higher and away from the positively layered moving averages
Probable scenario: Awaiting pull back
Alternate scenario: Short beneath 101.82
Intraday levels: Open: 101.85, R1 102.00, R2 102.16, S1 101.70, S2 101.55



USDCHF



Time frame: 1 hour
Outlook: Up
Price action: The price action is trading higher and away from the positively layered moving averages
Probable scenario: Awaiting pull back
Alternate scenario: Short beneath 0.9038
Intraday levels: Open: 0.9039, R1 0.9053, R2 0.9068, S1 0.9024, S2 0.9009