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London Open Intra Day Analysis 31.07.2014

The London open



EURUSD



Time frame: 1 hour
Trend: Down
Outlook: The price action is correcting up towards the negatively layered moving averages
Probable scenario: Short beneath 1.3390
Alternate scenario: Long above 1.3400
Intraday levels: Open: 1.3396, R1 1.3417, R2 1.3438, S1 1.3375, S2 1.3353



GBPUSD



Time frame: 1 hour
Trend: Down
Outlook: The price action is correcting up towards the negatively layered moving averages
Probable scenario: Short beneath 1.6904
Alternate scenario: Long above 1.6928
Intraday levels: Open: 1.6910, R1 1.6940, R2 1.6970, S1 1.6881, S2 1.6851



USDJPY



Time frame: 1 hour
Trend: Up
Outlook: The price action is correcting down towards the positively layered moving averages
Probable scenario: Long above 102.88
Alternate scenario: Short beneath 102.73
Intraday levels: Open: 102.79, R1 103.00, R2 103.19, S1 102.60, S2 102.40



USDCHF



Time frame: 1 hour
Outlook: Up
Price action: The price action is correcting down towards the positively layered moving averages
Probable scenario: Long above 0.9090
Alternate scenario: Short beneath 0.9082
Intraday levels: Open: 0.9086, R1 0.9101, R2 0.9117, S1 0.9070, S2 0.9054